China Central Bank Injects Most Funds Since February as Money Rates Increase
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China’s central bank pumped more money into its financial system than any time since February this week, underscoring how moves to protect the yuan have strained the supply of cash.
The People’s Bank of China injected a net 150 billion yuan ($23 billion) in open-market operations, according to data compiled by Bloomberg. That’s the most since before the Chinese New Year holiday, when seasonal demand for cash typically jumps. The authorities are providing a further 170 billion yuan through loans and an auction of deposits.