People’s Bank of China injects RMB79 billion in open market operation29 November, 2012, 11:50. Posted by Zarathustra
People’s Bank of China’s routine open market operation today made RMB79 billion of liquidity available to the market.
The operation includes RMB29 billion of 7-day reverse repo at 3.35% and RMB50 billion of 14-day reverse repo at 3.45%. The rates were unchanged.
Overall, PBOC remains in a net drainage position of RMB40 billion for the week.
Despite net withdrawal and month-end, short-term interest rates remain relatively stable (compared with the usual month-end crunch), while 3-month SHIBOR continues to climb higher.