China C.bank to inject 30 billion yuan via seven-day reverse repos

China’s central bank will inject 30 billion yuan ($4.49 billion) into money markets through seven-day reverse bond repurchase agreements on Wednesday, traders said.

Maturing reverse repos will drain a net 195 billion yuan from the banking system this week.

The People’s Bank of China conducted a net drain of 645 billion yuan from the banking system last week.

Source: Reuters