Friday May 25, 2018
Home > News > Economy
Text:| Print|

Record 860b yuan injected via reverse repos

2013-02-08 11:08 China Daily     Web Editor: qindexing comment

China injected a record 860 billion yuan ($138 billion) into the financial system using reverse repurchase agreements this week to meet rising demand for cash before a week-long Spring Festival holiday.

The People's Bank of China injected 410 billion yuan using 14-day reverse repos on Thursday, after adding 450 billion yuan on Tuesday. The overnight money-market rate climbed for an eighth day, the longest run of increases in almost a year.

"The PBOC injection is in reaction to liquidity needs," said Frances Cheung, a strategist at Credit Agricole CIB in Hong Kong. "It is natural for cash demand to pick up before the Chinese New Year."

Comments (0)

Copyright ©1999-2011 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.