Cash in­jec­tion halt con­tin­ues

China Daily (Hong Kong) - - BUSINESS -

China’s cen­tral bank on Mon­day sus­pended open mar­ket op­er­a­tions for a sev­enth trad­ing day in a row, cit­ing a rel­a­tively high level of liq­uid­ity in the bank­ing sys­tem. With 70 bil­lion yuan ($10.3 bil­lion) of re­verse re­pos ma­tur­ing on Mon­day, the same amount of cash was drained from the mar­ket by the Peo­ple’s Bank of China. Al­to­gether, 250 bil­lion yuan of re­verse re­pos will ma­ture this week. Ris­ing fis­cal spend­ing near the end of month off­set ma­tur­ing re­verse re­pos, the PBOC said last week. In Mon­day’s interbank mar­ket,

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