China’s Central Bank Makes Huge Liquidity Injections Into Open Market

People's Bank of China launched a 101 billion yuan 7-day reverse repurchase operation today, with a winning bid rate of 1.8%. It also conducted a 508 billion yuan 14-day reverse repurchase operation, with a winning bid rate of 1.95%, the same as before. As 169 billion yuan of reverse repos expired today, a net liquidity injection of 440 billion yuan was achieved.