China Repo Rate Falls Most in 2 Months on Record Cash Injection
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China’s benchmark money-market rate fell the most in two months after China pumped in a record 860 billion yuan ($138 billion) into the financial system to meet cash demand before next week’s holidays.
The People’s Bank of China injected 410 billion yuan using 14-day reverse-repurchase contracts yesterday, after adding 450 billion yuan on Feb. 5. The monetary authority pumped in a net 662 billion yuan into the financial system this week. China’s financial markets will be shut for a week starting Feb. 11 for the Lunar New Year break.