The People’s Bank of China (PBoC) pumped a net 59 billion yuan (US$9.68 billion) into the financial system this week in open market operations, according to data available on its website. The central bank sold 33 billion yuan worth of reverse repurchase agreements on Thursday, adding to its 35 billion yuan sale of such liquidity-injecting instruments on Tuesday. Thursday’s reverse repos were priced at a yield of 4.3 percent with a maturity of 14 days. As 9 billion yuan worth of reverse repos matured this week, there is a net injection of 59 billion yuan into the system for the week.
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