PBOC to inject 230b yuan through 7-day reverse repos

[SHANGHAI] China's central bank will inject 230 billion yuan (S$49.56 billion) into the money markets through seven-day reverse bond repurchase agreements on Monday, traders said.

Maturing reverse repos will drain a net 1.16 trillion yuan from the banking system this week, according to Reuters calculations.

The People's Bank of China conducted a net drain of 80 billion yuan from the banking system last week.

REUTERS