China cbank makes biggest weekly cash withdrawal since Jan

SHANGHAI/SINGAPORE, April 7 (Reuters) - China's central bank made its biggest weekly cash withdrawal in three months this week, as month-end liquidity tensions eased. The People's Bank of China (PBOC) injected 17 billion yuan ($2.47 billion) through seven-day reverse repurchase agreements via open market operations on Friday.

With 189 billion yuan worth of such short-term bond instruments due on Friday, the central bank drained a net 172 billion yuan on the day.

And the PBOC drained 1.132 trillion yuan on a net basis for the week, the biggest cash withdrawal since early January.
($1 = 6.8750 Chinese yuan)
(Reporting by Winni Zhou and Tom Westbrook; Editing by Muralikumar Anantharaman)

Messaging: winni.zhou.thomsonreuters.com@reuters.net))

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

China cbank makes biggest weekly cash withdrawal since Jan

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Solid price gains for gold, silver after busy news weekend

Bitcoin remains a ‘speculative vehicle’ and ‘won’t work’ as a reserve: ‘I prefer gold’ – Ray Dalio