China Injects Record Amount of Cash This Week Before Holidays
- PBOC added 1.97 trillion yuan short-term cash this week
- Higher mobility after reopening boosts cash demand: Maybank
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China’s central bank has pumped a record amount of short-term cash into the banking system this week as demand rose following the removal of Covid restrictions and ahead of the Lunar New Year holidays.
The People’s Bank of China added a net 1.97 trillion yuan ($291 billion) of cash this week via open market operations, a record high, according to data compiled by Bloomberg. That’s more than nine times the size of last week’s injection.