The Finance Insider blog

Search This Blog

Blog Archive

The Finance Insider

Wednesday, July 3, 2013

PBOC injects 36B yuan into banking system.

The People's Bank of China has continued to climb down from its tough stance on liquidity, allowing 36B yuan ($5.9B) to flow into the banking sector today. Inter-bank funding rates have kept on falling, with the benchmark seven-day bond repurchase rate dropping 69 bps to 4.76% and the overnight repo rate tumbling 63 bps to 3.79%. Meanwhile, the government has instructed local media to stop "hyping the so-called credit crunch."

No comments:

Post a Comment