PBOC injects most funds in two weeks to meet demand for cash

As Bloomberg reports, the Chinese central bank, PBOC injected most funds into two weeks via open market operations (OMOs), in a bid to meet the liquidity crunch on the back of seasonal spike in demand for cash.

The PBOC auctioned 90 billion yuan ($14 billion) of seven-day reverse-repurchase agreements on Tuesday, the most since April 1. That added to 448 billion yuan of loans made to commercial lenders via the Medium-Term Lending Facility over the past week.

The PBOC has increased the frequency of its open-market operations this year to strengthen control over short-term money rates.