PBOC continues cash injection after rate hike
Dec 16, 2017-
China’s central bank on Friday continued to pump cash into the financial system to ensure stable liquidity, after it raised interest rates for open market operations the previous trading day. The People’s Bank of China (PBOC) conducted 80 billion yuan (about $12.11 billion) of seven-day reverse repos priced to yield 2.5 percent, and 70 billion yuan of 28-day contracts to yield 2.8 percent. The interest rates stayed unchanged with Thursday’s open market operations, which was raised by 5 basis points following the interest rate hike by the US Federal Reserve Wednesday. The operation resulted in a net injection of 150 billion yuan into the market.
Published: 16-12-2017 08:50