PBOC to inject 120bn yuan via reverse repos

SHANGHAI: China's central bank will inject 120 billion yuan ($17.87 billion) into money markets on Wednesday, traders said.

The People's Bank of China is injecting 90 billion yuan through seven-day reverse bond repurchase agreements and 30 billion yuan through 14-day reverse repos, they said.

On a net basis, the PBOC will neither inject nor drain any funds from the market via its open market operations for a third straight day.

The PBOC injected a net 280 billion yuan into the money market last week.