Aug
19
China Central Bank Injects Most Funds Since February as Money Rates Increase
ByChina’s central bank injected the most funds in open-market operations since February as intervention to prop up the yuan strained the supply of cash and drove a key money-market rate to a four-month high.
The People’s Bank of China pumped a net 150 billion yuan ($23 billion) into the financial system this week, data compiled byBLOOMBERG
show. That’s the most since before the Chinese New Year holiday, when seasonal demand for cash spikes. The authorities are providing another 170 billion yuan through loans and an auction of deposits…
China Central Bank Injects Most Funds Since February as Money Rates Increase
