China central bank: cash injection meant to maintain reasonably ample liquidity

SHANGHAI (Reuters) – China’s central bank said its cash injection through reverse repo operations on Tuesday was meant to maintain “reasonably ample” liquidity in the banking system.

The People’s Bank of China (PBOC) made the biggest daily net fund injection via open market operations on Tuesday by injecting 560 billion yuan ($82.64 billion) on a net basis. [CN/MMT]

The central bank attributed the generous liquidity support to the current peak period for tax payments, adding that “the banking system’s overall liquidity is falling rapidly”, according to a statement published on its website.

($1 = 6.7761 )

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