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PBOC To Keep Injecting Large-scale Reverse Repos

CHINA PRESS
MNI (Singapore)

The People’s Bank of China will continue with large-scale injections via reverse repos to offset the liquidity gap due to increasing demand for cross-month capital and cash withdrawals before the Chinese New Year, Shanghai Securities News reported citing analysts. Meanwhile, about CNY2 trillion reverse repos will mature this week, with over CNY400 billion expiring daily from Tuesday to Friday. The central bank will need to inject about CNY1.5 trillion in liquidity to fill the gap, which means it still needs to inject some short-term funds after announcing a 50bp cut to bank's reserve requirement ratios that can release CNY1 trillion of long-term funds, said Li Yishuang, chief fixed income analyst at Cinda Securities.

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