PBOC to inject 80bn yuan via reverse repos

SHANGHAI: China's central bank will inject 80 billion yuan ($12.11 billion) into money markets on Wednesday, traders said.

The People's Bank of China (PBOC) is injecting 40 billion yuan through seven-day reverse bond repurchase agreements, 30 billion yuan through 14-day reverse repos and 10 billion yuan through 28-day reverse repos, they said.

On a net basis, the PBOC will inject 10 billion yuan into the market via open market operations for the day, with 70 billion yuan worth of reverse repos due to mature on Wednesday.

The PBOC injected a net 80 billion yuan into the money market last week.