PBOC Injects 1.1 Trillion Yuan in Four Days

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The Chinese central bank has made a net injection of 1.1 trillion yuan (approx. USD$160.32 billion) in less than a week-long period, far ahead of the standard injection for the month of January over the past four years.

On Sunday 19 January the People’s Bank of China (PBOC) conducted 200 billion yuan in reverse repo operations, bringing its net injections into the Chinese monetary system during the four-day period since Wednesday to 1.1 trillion yuan in total.

On 15 January PBOC made net injections of 400 billion yuan, via 300 billion yuan in medium-term lending facilities (MLF) and 100 billion yuan in 14 day reverse repo operations.

On 16 January it made net injections of 300 billion yuan via 14 day reverse repos auctions, followed by 200 billion yuan in reverse repo auctions on 17 January.

Domestic analysts forecast a shortfall in funds of over 3 trillion yuan in January, and anticipate further liquidity injections from the Chinese central bank in future.

PBOC injected anywhere between 700 billion and 800 billion yuan in the month of January during the period from 2017 to 2019.

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