The Chinese central bank’s move to cut the amount of cash in the banking system recently was seen as particularly aggressive ahead of the Lunar New Year holiday period. Photo: EPA-EFE The Chinese central bank’s move to cut the amount of cash in the banking system recently was seen as particularly aggressive ahead of the Lunar New Year holiday period. Photo: EPA-EFE
The Chinese central bank’s move to cut the amount of cash in the banking system recently was seen as particularly aggressive ahead of the Lunar New Year holiday period. Photo: EPA-EFE
China economy

China’s monetary tightening seen as a ‘warning to public’ to cool market expectations ahead of Lunar New Year

  • People’s Bank of China makes ‘moderate’ withdrawal of 80 billion yuan (US$12.38 billion) in net liquidity via its open market operations on Wednesday
  • Central bank traditionally adds large sums to banking system before Lunar New Year so banks can meet rise in demand for cash during peak spending season

Topic |   China economy
The Chinese central bank’s move to cut the amount of cash in the banking system recently was seen as particularly aggressive ahead of the Lunar New Year holiday period. Photo: EPA-EFE The Chinese central bank’s move to cut the amount of cash in the banking system recently was seen as particularly aggressive ahead of the Lunar New Year holiday period. Photo: EPA-EFE
The Chinese central bank’s move to cut the amount of cash in the banking system recently was seen as particularly aggressive ahead of the Lunar New Year holiday period. Photo: EPA-EFE
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