Monday, April 6, 2015

ecns [expanded by feedex.net]: China's central bank makes cash injection

ecns [expanded by feedex.net]

ecns

China's central bank makes cash injection
http://www.ecns.cn/business/2015/04-07/160818.shtml
Apr 7th 2015, 04:09




China's central bank has injected funds into the market through reverse repurchase agreement (repo) to meet cash demand.


The People's Bank of China (PBOC), the central bank, pumped 20 billion yuan (3.28 billion U.S. dollars) into the money market on Tuesday through a seven-day reverse repo, a process in which the central bank purchases securities from banks with an agreement to resell them at future dates.


The seven-day reverse repo was priced to yield 3.45 percent, according to a statement on the PBOC website.


The benchmark overnight Shanghai Interbank Offered Rate (Shibor), which measures the cost at which Chinese banks lend to one other, shrank 12.10 basis points to 2.766 percent on Tuesday's interbank market.




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