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PBOC Increases Reverse Repos To Smooth Liquidity Gap

MNI (Singapore)

The People’s Bank of China has increased net injections of liquidity by lifting reverse repos to more than CNY200 billion a day to cushion the impact of the traditional tax season and government bond issuance, the China Securities Journal reported. Tax payments will drain liquidity mainly on Wednesday and Thursday, though liquidity will gradually become looser in early November, the newspaper said citing analysts. The PBOC is expected to keep using open market operations and structural monetary policy tools to maintain reasonably ample liquidity through the end of the year, the newspaper said citing analysts.

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