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PBOC to inject 220 bln yuan via reverse repos -traders

Kitco News

SHANGHAI, Jan 24 (Reuters) - China's central bank will inject 220 billion yuan ($34.38 billion) into money markets on Wednesday, traders said.

The People's Bank of China (PBOC) is injecting 110 billion yuan through seven-day reverse bond repurchase agreements, 100 billion yuan through 14-day reverse repos and another 10 billion yuan through 63-day reverse repos, they said.

On a net basis, the PBOC will inject a net 50 billion yuan into the market via open market operations for the day, with 170 billion yuan worth of reverse repos due to mature on Wednesday.

The PBOC injected a net 590 billion yuan into the money market last week. ($1 = 6.4000 Chinese yuan)

(Reporting by the Shanghai Newsroom; Editing by Sam Holmes)

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