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Monday, August 15, 2022

People’s Bank oF chine Releases CNY 2 Trillion In Liquidity Befor Lunar New Year

People's Bank oF chine Releases CNY 2 Trillion In Liquidity Befor Lunar New Year© Reuters. PBOC liquidity

Investing.com – China’s central bank on Friday released temporary liquidity worth almost 2 trillion yuan ($316.28 billion) ahead of the week-long long Lunar New Year holidays.

The People’s Bank of China had announced in December that it would allow some commercial banks to temporarily keep less required reserves to help them cope with the heavy demand for cash ahead of the festivities that are seen as the largest annual human migration as people travel to gather with relatives.

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Source: Investing.com

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