PBOC injects net 55bn yuan for week, first net injection since late Jan

SHANGHAI: China's central bank will drain 114 billion yuan ($18.39 billion) from the money markets through forward bond repurchase agreements on Thursday, traders said, meaning it will inject a net 55 billion yuan into the market this week.

That will mark the first time it has injected funds on a net basis since the end of January.

The People's Bank of China (PBOC) drained funds by issuing 70 billion yuan worth of 14-day repos and 44 billion yuan in 28-day repos.

The PBOC conducted a net drain of 62 billion yuan from the market last week.