China’s central bank added a net RMB45 billion (US7.2 billion) into the country’s money market Tuesday, marking the seventh week of pump-priming injections, The Wall Street Journal reported. The People’s Bank of China conducts liquidity operations every Tuesday and Thursday, and the latest injection was higher than the average RMB39.3 billion a week the bank has added to the system over the last seven weeks. Gu Ying, interest-rate strategist at J.P. Morgan Chase said the streak was “mainly aimed at coping with the seasonal surge in demand for cash ahead of the Lunar New Year holiday.”
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