PBOC Resumes Reverse-Repo Cash Injections After 13-Day Pause
- Operations result in a net addition of 70 billion yuan
- Benchmark money rate drops as quarter-end demand eases
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China’s central bank restarted the use of an instrument that adds cash to the financial system, adding liquidity before more than $45 billion of funds come due.
The People’s Bank of China auctioned 110 billion yuan ($16 billion) of reverse-repurchase agreements on Thursday. The offering -- the first since March 23 -- comes before 314.5 billion yuan of such contracts and Medium-term Lending Facility loans mature by the end of next week, data compiled by Bloomberg show.