China central bank boosts liquidity
BEIJING: China's central bank Monday injected 120 billion yuan (17.65 billion U.S. dollars) into the financial system via open market operations to ease liquidity pressure.
The operations included 50 billion yuan of seven-day reverse repos, 40 billion yuan of 14-day reverse repos, and 30 billion yuan of 28-day contracts, with interest rates of 2.45, 2.6, and 2.75 percent, respectively, the People's Bank of China (PBOC) said on its website, reports Xinhua.
The PBOC attributed the new operations to a huge decline in overall liquidity due to factors including payments for government bonds.
Offset by 10 billion yuan of maturing reverse repos, the PBOC injected a net liquidity of 110 billion yuan into the market through reverse repos on Monday.
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