The People’s Bank of China added a net 150 billion yuan ($21.4 billion) of funds on Monday using 7-day and 14-day reverse repurchase agreements. The rate for both was cut by 10 basis points, driving down the cost of the money to "ensure ample liquidity during the special period of virus control, ” it said in a statement. PBOC adviser Ma Jun indicated he expects further rate cuts later in the month.
BEIJING: China's central bank pumped 100 billion yuan (about 14.3 billion US dollars) into the financial system via reverse repos on Tuesday.
The People's Bank of China injected the fund through seven-day reverse repos at an interest rate of 2.4 percent.
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