Central BanksEconomic Calendar
PBoC Continues Zero Reverse Repo Operations

The People’s Bank of China (PBoC) left its daily liquidity injections unchanged at zero for a second consecutive session on Thursday, following the first suspension of seven-day reverse repo operations in nearly two years a day earlier. The central bank said the zero-volume operation reflected the needs of primary dealers in open market operations. The move has drawn market attention as it comes despite ample liquidity in the banking system. The consecutive zero operations suggest policymakers are comfortable with current funding conditions and see no immediate need to inject additional cash into the financial system.
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