Jan
15
China Injects Record Funds to Counter Tax, Holiday Cash Demand
By-
PBOC pumps in net 560 billion yuan via open-market operations
- Today is peak of tax payments, Citic Securities says
China’s central bank boosted injections via open-market operations to the most on record to meet seasonal demand for cash due to tax payments and major holidays.
The People’s Bank of China pumped in a net 560 billion yuan ($83 billion) into the financial system on Wednesday, the biggest one-day addition on record. The PBOC is offering reverse repos to maintain sufficient liquidity in the banking system during the peak season for tax payments, according to a central bank statement…
China Injects Record Funds to Counter Tax, Holiday Cash Demand
