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China central bank raises cash injection to keep liquidity stable at end of half year

China central bank raises cash injection to keep liquidity stable at end of half year

FILE PHOTO: Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee

SHANGHAI: China's central bank on Friday (Jun 24) increased the injection of liquidity into the banking system through open market operations, as demand for cash for the end of the first half of the year started to pick up.

The People's Bank of China (PBOC) injected 60 billion yuan (US$8.96 billion) worth of seven-day reverse repos on Friday, having injected 10 billion yuan each day for the past 50 days.

Friday's operation was meant to keep "half year-end liquidity stable," the PBOC said in a statement.

For the week, the central bank injected a net 50 billion yuan on a net basis, showed Reuters' calculation based on official data.

Source: Reuters/gs

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