China’s central bank injects cash into economy

Policy shift: The PBoC building in Beijing, China. The country has typically used 14-day repos to help the banking system tide over long holidays, and the last time it did so was ahead of a spring break in February. — Bloomberg

SHANGHAI: China’s central bank supplied 14-day cash to its banking system for the first time in months on Monday and at a lower interest rate, signalling its intent to further ease monetary conditions.

The People’s Bank of China a(PBoC) injected 234.6 billion yuan into the banking system through open market operations, saying it wanted to “keep quarter-end liquidity adequate at a reasonable level in the banking system”.