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PBOC increases cash transactions before year-end
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Loading...China's central bank is preparing to increase the supply of money in the financial system by injecting more funds after the end of the year, demand moved borrowing costs to a three-month high.
People's Bank of China pump a net 30 billion yuan ($ 4.6 billion) this week, compared with 10 billion yuan in the previous period, according to data compiled by Bloomberg. Interbank interest rates in the money market usually climb at the end of the year as lenders raise money to meet regulatory requirements.
Overnight repo rate rose one basis point to 1.91 percent, the highest value since September 30, according to a weighted average of the National Interbank Funding Center .. It traded between 1.74 and 1.78 percent, after the PBOC lowered their benchmark interest rates in October before breaking down outside the range of 18 December
Active monetary policy in recent days, will likely inspire investor confidence in China's economy, it is therefore possible increase in CNY.
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