USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Finance

China central bank suspends cash injections

Xinhua | Updated: 2017-05-31 14:15

BEIJING — China's central bank on Wednesday suspended cash injections into the market as interbank liquidity remained stable.

The People's Bank of China (PBOC) conducted 210 billion yuan (about $30.6 billion) of reverse repos, which, offset by the same amount of maturing reverse repos, resulted in no cash pumped into or drained from the market.

The operations included 180 billion yuan of seven-day reverse repos priced to yield 2.45 percent, and 30 billion yuan of 14-day contracts with a yield of 2.6 percent, according to a PBOC statement.

Lending costs in China's interbank market remained low. The benchmark overnight Shanghai Interbank Offered Rate (Shibor), the cost at which Chinese banks lend to one another, rose by 3.55 basis points to 2.6365 percent on Wednesday.

China has set the tone of its monetary policy in 2017 as prudent and neutral, keeping an appropriate liquidity level but avoiding excessive liquidity injections.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US