China makes biggest cash injection in banking system since February: report

The PBOC has injected a net CN¥120b into the system for this week.

China’s central bank made its largest weekly cash injection into the banking system in seven months to meet higher cash demand towards the month’s end, reported Reuters.

For the week, the People’s Bank of China (PBOC) said that it has injected more than CN¥120b into the banking system, the largest weekly injection since the start of February.

The PBOC offered $7.71b (CN¥50b) through seven-day reverse repos into the banking system on Friday for the third straight session.

The PBOC usually only injects a minimal CN¥10b during the month.

The central bank said that it raised the amount in order to "maintain stable liquidity conditions at the end of the month".

Here’s more from Reuters.