People’s Bank of China injects RMB277 billion of liquidity through open market operation6 November, 2012, 10:51. Posted by Zarathustra
People’s Bank of China continues with its twice-a-week reverse repo routine, injecting a gross RMB277 billion of liquidity into the market today.
Today’s operation includes RMB166 billion of 7-day reverse repo at 3.35% and RMB111 billion of 28-day reverse repo at 3.60%. The rates are unchanged.
This week’s expiring reverse repos amount to RMB533 billion, with RMB390 billion of them expiring today alone, while expiring central bill this week amounts to RMB10 billion. That means PBOC would be withdrawing a net RMB523 billion from the banking system if no open market operation is conducted for the week. Today’s operation brings this week’s net liquidity withdrawal to RMB246 billion.