PBOC to inject $174 billion via reverse repos on Monday

China's central bank said on Sunday it will inject 1.2 trillion yuan (about 174 billion U.S. dollars) in liquidity via reverse repo on February 3, in order to maintain ample liquidity amid the coronavirus outbreak.

The People's Bank of China (PBOC) said that the overall liquidity in the banking system will be 900 billion yuan more than the same period last year.

The PBOC will use various monetary policy tools to ensure sufficient liquidity amid the epidemic. It will provide relending funds of 300 billion yuan to major national banks and some local banks in key provinces like Hubei, and enhance credit support for the manufacturing sector, small and micro enterprises and private enterprises, the bank said on Saturday.

(ASIA PACIFIC DAILY)