Thu, 27 Sep 2012 09:55:30 GMT
People's Bank of China makes a record liquidity injection
China's central bank injected the biggest weekly amount of cash into the financial system to ease a liquidity crunch that had raised borrowing costs. The PBC poured 365 bn Yuan ($58 bn), a record high weekly amount, into money markets during the past three days via reverse repurchase agreements. The seven-day repurchase yield immediately dropped 1 percentage point from 4.75%,