People’s Bank of China injects RMB114 billion of liquidity in open market operation20 November, 2012, 10:49. Posted by Zarathustra
People’s Bank of China continues with the routine twice-a-day open market operation, injecting a total of RMB114 billion of liquidity into the system.
Today’s operation includes RMB69 billion of 7-day reverse repo at 3.35% and RMB45 billion of 28-day reverse repo at 3.60%. Rates are unchanged.
This week, RMB15 billion of central bank bills and RMB242 billion of reverse repo expire, leaving PBOC withdrawing RMB227 billion of liquidity from the system if nothing is done. Including today’s operation, PBOC net withdraws RMB113 for the weak if not further operation is done, which is not likely.