The People's Bank of China (PBOC), China's central bank, offered 150 billion yuan worth of 7-day reverse repos in Tuesday's open market operations, with the yield down 15 basis points (bp) to 2.35 percent.
Statistics show 240 billion yuan of reverse repos were due this week, and the central bank had offered 150 billion yuan of reverse repos on Tuesday. As a result, the central bank, injected a net 60 billion yuan into the financial system this week.
On Wednesday, the central bank also pumped 140 billion yuan into the banking system via 6-day short-term liquidity operations (SLO) in a bid to boost liquidity.
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