In open market operations, PBOC to
- Inject 100 bn yuan via 7-day reverse repos
- inject 150 bn yuan via 28-day reverse repos
More huge injections today.
Yesterday I posted:
- This is a factor: China said to intervene in stock market this week as Xi attends Davos
- Also of influence are rising money-market rates, likely in response to the rising demand for cash ahead of the Lunar New Year holidays (January 27 - February 2). 28-day RRs will cover the New Year holiday period while the 7-dayers are for immediate liquidity..
