17 September 2019

PBoC drains 72 bln yuan from money market

The People’s Bank of China (PBoC) drained 72 billion yuan (US$11.59 billion) from the financial system Tuesday, after taking out a net 98 billion yuan last week, according to information posted on the central bank’s website. Some analysts expect the central bank to pump cash into the financial system next month by resuming the sale of reverse repurchase agreements, in a bid to help keep economic growth stable, Netease financial news portal reported Tuesday. 

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