China central bank to inject 60b yuan via reverse bond repurchase agreements

[SHANGHAI] China's central bank will inject 30 billion yuan (S$6.44 billion) into the money markets through seven-day reverse bond repurchase agreements and 30 billion yuan through 28-day reverse bond repurchase agreeements on Tuesday, traders said.

Maturing reverse repos will drain a net 50 billion yuan from the banking system this week.

The People's Bank of China (PBOC) conducted a net injection of 50 billion yuan into the banking system last week.

REUTERS