China's central bank drains 24b yuan for week

PUBLISHED : Thursday, 22 November, 2012, 12:06pm
UPDATED : Thursday, 22 November, 2012, 12:06pm

China’s central bank will inject 89 billion yuan (US$14.29 billion) into the money markets through reverse bond repurchase agreements on Thursday, traders said, meaning it will drain a net 24 billion yuan from the market this week.

The People’s Bank of China (PBOC) injected 46 billion yuan through seven-day reverse repos and 43 billion yuan through 14-day reverse repos.

The nation's central bank conducted a net drain of 75 billion yuan from the market last week.

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