PBOC to inject 100 billion yuan via reverse repos: traders

[SHANGHAI] China's central bank will inject 40 billion yuan (US$5.82 billion) into money markets on Tuesday through seven-day reverse bond repurchase agreements, 30 billion yuan through 14-day reverse repos, and an additional 30 billion yuan through 28-day reverse repos, traders said.

The People's Bank of China (PBOC) drained a net 150 billion yuan from money market last week.

In early trade on Tuesday, the volume weighted average of the seven-day repo rate was at 2.35 per cent, down 35.18 basis points from the previous closing average rate.

REUTERS