China central bank steps up daily injection, offers $1.8bn

SHANGHAI: China’s central bank stepped up cash injections through open market operations on Monday, snapping a 10-day streak of a minimal 3 billion yuan ($444.61 million) of daily offering.

The People’s Bank of China (PBOC) injected 12 billion yuan via seven-day reverse repurchase agreement at a cost of 2.1%, a statement online showed.

China to step up implementation of ‘prudent’ monetary policy

With 3 billion yuan worth of the short-term liquidity tool due on Monday, the PBOC injected a net 9 billion yuan.