SHANGHAI (Reuters) - China’s central bank said it will inject 35 billion yuan ($5.06 billion) through open market operations on Wednesday, traders said.
The People’s Bank of China (PBOC) is injecting 15 billion yuan through seven-day reverse bond repurchase agreements and 20 billion yuan through 28-day reverse repos, according to the traders.
The last time the PBOC injected funds via the 28-day tenor was on Jan. 18.
On a net basis, the central bank will drain 25 billion yuan from the market for the day, as 60 billion yuan worth of reverse repos are set to expire on Wednesday.
Reporting by the Shanghai Newsroom; Editing by Sam Holmes