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PBOC pumps 440b yuan more into money markets

It hopes to avoid tightening of interbank rates ahead of Chinese New Year

The PBOC's latest move comes after an injection of 1.3 trillion yuan this month. Guotai Junan Securities Co estimates cash demand growing by about three trillion yuan in the next two weeks.


CHINA'S central bank is injecting massive amounts of yuan into the banking system to avoid a squeeze on interbank rates ahead of the coming New Year celebrations.

On Tuesday, the People's Bank of China (PBOC) said that it was injecting 440 billion yuan (S$95.6 billion) into