PBoC report reveals extent of liquidity interventions
Liquidity support aims to offset accelerating FX outflows
The People's Bank of China (PBoC) injected two trillion yuan ($320 billion) of liquidity into the economy last year, in an effort to offset a growing outward rush of capital, the central bank said in its latest monetary policy report.
The report, covering the fourth quarter of 2014, said open market operations, refinancing and other liquidity tools had become the main channel of monetary policy operations over the year, as the central bank switched from sterilising foreign exchange inflows to
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