PBOC to inject 90bn yuan via reverse repos

SHANGHAI: China's central bank will inject 90 billion yuan ($14.22 billion) into money markets on Monday, traders said.

The People's Bank of China (PBOC) is injecting 50 billion yuan through seven-day reverse bond repurchase agreements and 40 billion yuan through 28-day reverse repos, they said.

On a net basis, the PBOC will inject a net 90 billion yuan into the market for the day as there are no reverse repos expiring on Monday.

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