PBoC drains liquidity from banking system

The People’s Bank of China (PBoc) injected 50 billion yuan (about US$7.6bil) into the market through seven-day reverse repos at an interest rate of 2.2%, according to a statement on its website.

BEIJING: China’s central bank drained liquidity from the banking system through open market operations yesterday.

The People’s Bank of China (PBoc) injected 50 billion yuan (about US$7.6bil) into the market through seven-day reverse repos at an interest rate of 2.2%, according to a statement on its website.