China’s Central Bank To Inject $6.13 Billion Through 7-day Reverse Repos: Report
China’s central bank will inject 40 billion yuan ($6.13 billion) into the money markets through seven-day reverse bond repurchase agreements on Wednesday, traders said. With today’s injection, the central bank has already injected 240 billion yuan this week. Maturing reverse repos will drain a net 960 billion yuan from the banking system this week, according to Reuters calculations. The People’s Bank of China conducted a net drain of 455 billion yuan from the banking system last week.