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PBOC pumps cash amid year-end liquidity demand
The People’s Bank of China’s (PBOC) liquidity injection jumped the most in two months, in the face of the year-end demand for cash from the banking system, per Bloomberg.
Key takeaways
“The PBOC added 200 billion yuan ($31 billion) of cash into the financial system through seven-day reverse repurchase agreements, more than offsetting the 10 billion yuan coming due.”
“The move came after an indicator for short-term borrowing costs soared the most in a year on Monday, a sign of liquidity shortages in the interbank market.”
Market reaction
USD/CNY is trading modestly flat around 6.3720, as of writing.
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