PBOC to inject 50bn yuan via reverse repos

SHANGHAI: China's central bank will inject 50 billion yuan ($7.56 billion) into money markets on Thursday, traders said.

The People's Bank of China (PBOC) is injecting 30 billion yuan through seven-day reverse bond repurchase agreements and 20 billion yuan through 28-day reverse repos, they said.

On a net basis, the PBOC will drain a net 190 billion yuan from the market via open market operations for the day, with 240 billion yuan worth of reverse repos due to mature on Thursday.

The PBOC drained a net 510 billion yuan from the money market last week.