PBoC decides to forgo cash injections into market

The decision was made based on the demand from primary dealers in the money market, the central bank said. — AP

BEIJING: China’s economy is so flush with funds the central bank chose not to make any short-term cash injections into the financial market for the first time since 2020.

The People’s Bank of China (PBoC) said it refrained from pumping cash into the financial system via its open-market operations (OMO) because “the overall amount of liquidity is reasonable and abundant”.