China injects 100 bil yuan into banking system

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China injects 100 bil yuan into banking system
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Move follows PBOC’s announcement it will trim amount of cash lenders must hold in reserve. FMTNews china

HONG KONG: China’s central bank added to its growing list of measures aimed at countering the economic fallout from the spreading virus, injecting US$14.3 billion into the financial system.

The cut, which is also effective from Monday, will free up about 550 billion yuan of liquidity in the financial system. China’s 10-year government bond futures erased an earlier gain of as much as 0.32% to trade little changed after the PBOC move.

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