BEIJING: The People’s Bank of China drained liquidity from the financial system, signaling that officials remain cautious about drastically stepping up the scope of stimulus even after a slew of weak economic data.
The People’s Bank of China injected 200 billion yuan ($28.3 billion) through the medium-term lending facility while 265 billion yuan worth matured. The one-year funding was offered at 3.3%, according to a statement, unchanged from before. The central bank also let 80 billion yuan worth of 7-day reverse repurchase agreements mature, taking the total net withdrawal to 145 billion yuan.
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