China central bank makes biggest weekly short-term cash injection since 2019
Reuters
Published Dec 29, 2022 08:44PM ET
SHANGHAI (Reuters) - China's central bank stepped up liquidity support this week by making the biggest weekly cash injection through a short-term bond instrument since 2019 to help financial institutions smoothly tide over the end of the year.
The People's Bank of China (PBOC) injected 183 billion yuan ($26.28 billion) through the seven-day reverse repurchase agreements in open market operations on Friday, according to an online statement.
The PBOC attributed the liquidity offerings to "maintaining steady year-end liquidity level".
With 2 billion yuan worth of such reverse repos maturing on Friday, the PBOC injected a net 181 billion yuan on the day. And it brought the weekly cash offerings via the liquidity tool to a net 975 billion yuan, the most since January 2019.
($1 = 6.9625 Chinese yuan)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.