PBOC to inject 340 bln yuan through 7-day reverse repos - traders

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China's central bank will inject 340 billion yuan ($52.08 billion) into the money markets through seven-day reverse bond repurchase agreements on Thursday, traders said.

With today's injection, the central bank has already injected 580 billion yuan this week.

Maturing reverse repos will drain a net 960 billion yuan from the banking system this week, according to Reuters calculations.

The People's Bank of China conducted a net drain of 455 billion yuan from the banking system last week.

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