Cen­tral bank in­ject­ing funds

China Daily (USA) - - BUSINESS -

China’s cen­tral bank re­sumed the use of a 28-day lend­ing tool for the first time since Fe­bru­ary, low­er­ing the in­ter­est rate as it in­jected funds into the fi­nan­cial sys­tem be­fore a se­ries of na­tional hol­i­days. The Peo­ple’s Bank of China auc­tioned 60 bil­lion yuan ($9 bil­lion) of re­verse-re­pur­chase agree­ments in open-mar­ket op­er­a­tions on Tues­day, re­duc­ing the rate to 2.55 per­cent from 2.6 per­cent on Feb 5.

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