China Economy

PBOC does 90 bln yuan reverse repos, drains 20 bln for week

PUBLISHED : Saturday, 05 January, 2013, 11:02am
UPDATED : Saturday, 05 January, 2013, 12:00pm

China’s central bank will inject 90 billion yuan (HK$110 billion) into money markets through reverse bond repurchase agreements on Saturday, traders said, meaning it will drain a net 20 billion yuan from the market this week.

The People’s Bank of China (PBOC) will make the injection of 90 billion yuan through five-day reverse repos.

The central bank delayed its operations from the customary Tuesday and Thursday slots due to a national holiday to mark the new calendar year in the first week of January.

The People’s Bank of China conducted a net injection of 117 billion yuan into the market last week.