SHANGHAI : China's central bank has made its biggest weekly cash withdrawal on record through a short-term bond instrument, as cash conditions loosened at the start of the year.The People's Bank of China in a statement said it injected 2 billion yuan ($290.70 million) into the banking system through seven
SHANGHAI : China's central bank has made its biggest weekly cash withdrawal on record through a short-term bond instrument, as cash conditions loosened at the start of the year.
The People's Bank of China in a statement said it injected 2 billion yuan into the banking system through seven-day reverse repurchase agreements in open market operations on Friday.With 386 billion yuan worth of reverse repos maturing on Friday, the bank drained a net 384 billion yuan on the day. That took the weekly net cash withdrawal to a record 1.601 trillion yuan.
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