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PBOC to inject 100 billion yuan via reverse repos - traders

Reuters
A woman rides past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, April 3, 2014. REUTERS/Petar Kujundzic

SHANGHAI (Reuters) - China's central bank will inject 50 billion yuan (5.2 billion pounds)into the money markets through 14-day reverse bond repurchase agreements and an additional 50 billion yuan through 28-day reverse repos on Tuesday, traders said.

PBOC also injected 10 billion yuan into the money markets through 28-day reverse repos on Monday in an off-schedule open market operation.

Maturing reverse repos will drain a net 180 billion yuan from the banking system this week.

The People's Bank of China (PBOC)conducted a net injection of 690 billion yuan into the banking system last week.

China's central bank increased the frequency of open market operations between Jan. 29 and Feb. 19 to help maintain liquidity in the market before and during the Lunar New Year.

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