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China Keeps Cash Engine Running in Ninth Day of Injections

  • Central bank seeks to boost liquidity before week-long break
  • Policy makers may deliver another RRR cut before holiday: ANZ
General Views of Financial District in Beijing
Photographer: Yan Cong/Bloomberg
Updated on

China’s central bank injected liquidity into the financial system for a ninth day in the longest run since December as it sought to meet a surge in seasonal demand for cash. 

The People’s Bank of China pumped in 100 billion yuan ($15.5 billion) of cash with 14-day reverse repurchase agreements, resulting in a net injection of 40 billion yuan. The move may also have been aimed at calming jitters fueled by China Evergrande Group’s debt crisis.