PBoC injects another $1.56B to maintain liquidity

The People’s Bank of China (PBoC) stated on Friday it has injected another 10 billion yuan, or $1.56 billion, into the market to keep “reasonably ample liquidity” in the banking system, which remains severely affected by the COVID-19 pandemic.

The central bank conducted the move under the interest rate for the seven-day reverse repos of 2.2%.

Earlier this week, the PBoC announced its decision to leave interest rates in July unchanged at 3.85%.

Breaking the News / JR