The People’s Bank of China (PBoC), China’s central bank, said it will inject RMB 35 billion ($5.06 billion) into China’s banking system through open market operations on Wednesday, reported Reuters.
The PBoC is injecting RMB 15 billion through seven-day reverse bond repurchase agreements and RMB 20 billion through 28-day reverse repos.
The last time the PBoC injected funds via the 28-day tenor was on January 18. On a net basis, the central bank will drain RMB 25 billion from the market for the day, as RMB 60 billion worth of reverse repos are set to expire on Wednesday.