PBoC makes record fund injection into financial system
Central bank pumps 570 billion yuan into system via open-market operations
The People’s Bank of China made what is thought to be its largest ever single-day cash injection into the country’s financial system today (January 16), in its latest effort to restock falling liquidity amid a wider economic slowdown.
The central bank injected 570 billion yuan ($84 billion) in a reverse repurchase operation. The move aims to ensure there are enough funds in the financial system, which is facing strains as tax payments are at their highest in January.
“The banking system’s
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