SHANGHAI, Sept 23 — China’s central bank will inject 90 billion yuan (RM55.49 billion) into money markets through seven-day reverse bond repurchase agreements and an additional 10 billion yuan through 28-day reverse repos today, traders said.
For the week, the central bank will have injected a net 670 billion yuan into the market through open market operations, booking the biggest weekly net injection since the week of April 18.
The People’s Bank of China (PBOC) injected a net 525.1 billion yuan into the banking system last week.
In early trade today, the volume weighted average of the seven-day repo rate was at 2.25 per cent, down 20.2 basis points from the previous closing average rate. — Reuters