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China central bank resumes reverse repo operations after near two-month hiatus, traders say

Reuters
·1-min read
China mourns for coronavirus (COVID-19) victims on Qingming tomb sweeping festival

SHANGHAI (Reuters) - China's central bank will inject 10 billion yuan (1.15 billion pounds) into money markets on Tuesday through seven-day reverse bond repurchase agreements, breaking a near two-month hiatus with no fresh fund injections via the liquidity tool, traders said.

With no reverse repos maturing on Tuesday, the People's Bank of China (PBOC) will inject a net 10 billion yuan into the interbank money market on the day.

Markets are now looking out for the seven-day reverse repo rate, which will be announced shortly. It is currently at 2.2%.

The PBOC last injected cash via reverse repos on March 31.

(Reporting by the Shanghai Newsroom; Editing by Shri Navaratnam)