Off the wire
• China develops 300-megawatt nuclear reactor cooling pump  • Spotlight: All-win nuclear security architecture needed  • Mainland-HK trade down 10 pct in first two months  • Russian teenager Medvedeva wins title at figure skating worlds  • Cuba, U.S. discuss health cooperation  • Myanamr's Yangon bans setting up pavilions on crowded roads for water festival  • Xinhua China news advisory -- April 3  • Bolivian communications satellite starts to pay off  • Azarenka lifts Miami Open crown  • Bahrain Grand Prix grid  
You are here: 　 Home

Central bank injects more money into market

Xinhua, April 3, 2016 Adjust font size:

China's central bank continued to pump money into the market to ease a liquidity strain this week.

The People's Bank of China (PBOC) conducted 395 billion yuan (61.16 billion U.S. dollars) of seven-day reverse repurchase agreements (repo) from Monday to Friday, a process in which central banks purchase securities from banks with an agreement to resell them in the future.

The reverse repos were all priced to yield 2.25 percent.

This week's injections have resulted in a net 15 billion yuan pumped into the market, offset by 380 billion yuan in maturing reverse repos.

This follows a net injection of 180 billion yuan into the financial system last week.

The continuous injections showed that the country's money supply was a bit tight, analysts said.

On Friday's interbank market, the benchmark overnight Shanghai Interbank Offered Rate (Shibor), which measures the cost at which Chinese banks lend to one another, fell to 2.014 percent. The rate reached 2.017 percent on Thursday, the highest level in a month.

The Shibor for two-week loans rose the most on Friday, by 3.3 basis points to 2.821 percent. Endi