China’s central bank pumped a record $60bn into the country’s money markets this week in an attempt to ensure that there will be ample cash in the economy to support the government’s push for more infrastructure investment.
The People’s Bank of China was continuing its pattern in recent weeks of injecting a large amount of short-term liquidity into the financial system via its open market operations.
The net injection for this week came to Rmb379bn ($60.7bn), the highest weekly amount. The previous record was set in late September before a week-long national holiday when demand for cash spiked.
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