Off the wire
• World's biggest plane leaves Australia as pilots praise public response   • Extinct herb discovered in eastern Himalayas  • Dongfeng Peugeot Citroen recalls vehicles  • Russian yacht detained in DPRK returns to Vladivostok  • Hot weather remains in north, rain to hit south  • Coal dust risk to Australia's Great Barrier Reef  • Aust'n police raid Melbourne homes linked to IS boat plot  • Cuba, Spain eye promotion of ties  • New technologies changing manufacturing models in China, New Zealand  • Australian authorities foil imminent terror attack  
You are here: 　 Home

PBOC drains 20 bln yuan from market

Xinhua, May 17, 2016 Adjust font size:

China's central bank on Tuesday allowed 20 billion yuan (3 billion U.S. dollars) to drain from the market to ensure a stable money supply.

The People's Bank of China (PBOC) put 50 billion yuan into seven-day reverse repos, a process by which central banks purchase securities from banks with an agreement to sell them back in the future.

The reverse repo was priced to yield 2.25 percent, according to a PBOC statement.

Reverse repos worth 70 billion yuan mature on Tuesday, so the central bank has effectively drained 20 billion yuan from the market.

On Tuesday's interbank market, the benchmark overnight Shanghai Interbank Offered Rate (Shibor) was up by 0.6 basis point to 2.011 percent.

The Shibor for seven-day loans also increased 0.4 basis point to 2.331 percent. The Shibor for three-month loans rose 0.83 basis point to 2.9158percent. Endi