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China : PBOC injects record amount of liquidity.

People s Bank of China has injected a record amount of liquidity on Tuesday through open market operation. The central bank carries out RMB290 billion of 7-day reverse repurchase at 3.35% and RMB105 billion of 28-day reverse repurchase at 3.60%. The rates were unchanged for this round of operation. This is the largest single day injection on record.

PBOC is back in net injection mode for the week following two consecutive weeks of net withdrawal. There is RMB199 billion of reverse repo and RMB10 billion central bank bills expiring this week. Tuesday s operation brought this week s net injection to RMB206 billion.

The record injection has been necessitated as the liquidity was tightening towards the month-end.

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Publication:Mena Report
Date:Nov 1, 2012
Words:132
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