Chinese Central Bank Injects 1.7 Trillion Yuan in Two Days Since End of Lunar New Year Vacation

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The People’s Bank of China (PBOC) has injected 1.7 trillion yuan (approx. USD$242.9 billion) into the Chinese monetary system via open market operations since the start of the week.

On 4 February PBOC released 500 billion yuan into the Chinese market via reverse repo operations, after making an injection of 1.2 trillion yuan the day previously.

The 7-day and 14-day reverse repo rates for PBOC’s record-breaking single day injection of 1.2 trillion yuan on 3 February were 2.4% and 2.55% respectively, both of which represented a decline of 10 basis points.

PBOC said that its open mar­ket op­er­a­tions were for the pur­pose of en­sur­ing am­ple liq­uid­ity lev­els dur­ing ef­forts to com­bat the novel coro­n­avirus. 

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