China's central bank will inject 10 billion yuan (1.15 billion pounds) into money markets on Tuesday through seven-day reverse bond repurchase agreements, breaking a near two-month hiatus with no fresh fund injections via the liquidity tool, traders said.
FILE PHOTO: The Chinese national flag flies at half-mast at the headquarters of the People's Bank of China, the central bank , as China holds a national mourning for those who died of the coronavirus disease , on the Qingming tomb-sweeping festival in Beijing, China April 4, 2020. REUTERS/Carlos Garcia Rawlins
SHANGHAI - China’s central bank will inject 10 billion yuan into money markets on Tuesday through seven-day reverse bond repurchase agreements, breaking a near two-month hiatus with no fresh fund injections via the liquidity tool, traders said. With no reverse repos maturing on Tuesday, the People’s Bank of China will inject a net 10 billion yuan into the interbank money market on the day.
Markets are now looking out for the seven-day reverse repo rate, which will be announced shortly. It is currently at 2.2%.Reporting by the Shanghai Newsroom; Editing by Shri Navaratnam
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