PBOC to inject 60bn yuan via reverse repos

SHANGHAI: China's central bank will inject 60 billion yuan ($9.48 billion) into money markets on Tuesday, traders said.

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

On a net basis, the PBOC will inject a net 60 billion yuan into the market for the day as there are no reverse repos expiring on Tuesday.

The central bank drained a net 240 billion yuan last week.