10.08.2022
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The Chinese Central Bank injected 100 billion yuan into the financial system as part of a seven-day reverse repo operation From IFX

The People’s Bank of China (PBOC) on Monday injected the biggest single day cash flow into the financial system since March 31 to ease pressure from rising cash demand towards the end of the first half of this year.

The regulator provided banks with 100 billion yuan (nearly $15 billion) in seven-day reverse repos.

The interest rate on seven-day REPO operations remained at the level of 2.1% per annum, the Chinese Central Bank said in a statement.

Demand for cash tends to rise towards the end of the quarter, when commercial banks are faced with the need to improve their liquidity situation amid quarterly inspections by the central bank, writes Trading Economics.

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