PBOC Cash Injection Spikes Amid Tax Payments, Rate Focus
- PBOC boosts cash via daily operation to the most since January
- Increase in funding comes amid tax payments, Third Plenum: ANZ
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China’s central bank injected the most amount of cash to its banking system since January via its daily operations, to keep liquidity plentiful as tax payments mount and the country’s leaders meet to set the economic agenda.
The People’s Bank of China injected a net 674 billion yuan ($93 billion) via reverse repurchase operations on Tuesday. The operation was aimed at offsetting the impact of tax season and keeping banking liquidity reasonably ample, it said.