Central bank pumps 40 bln yuan into market

Source: Xinhua | June 6, 2016, Monday |

Online Edition

China's central bank on Monday pumped more money into the market to ease a liquidity strain.

The People's Bank of China (PBOC) conducted 40 billion yuan (US$6.1 billion) in seven-day reverse repurchase agreements (repo), a process in which central banks purchase securities from banks with an agreement to resell them in the future.

The reverse repo was priced to yield 2.25 percent, unchanged from Friday's injection of 40 billion yuan, according to a PBOC statement.

The move followed a net injection of 70 billion yuan and 95 billion yuan into the financial system on Thursday and Wednesday, respectively.

In Monday's interbank market, the benchmark overnight Shanghai Interbank Offered Rate (Shibor), which measures the cost at which Chinese banks lend to one another, dropped by 0.1 basis point to 1.998 percent after the injection.

Economy

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Central bank pumps 40 bln yuan into market

Email this to your friend