That is a huge headline OMO injection of funds:
- 959.5bn yuan via 7 day RRs, rate at 1.5% added
- 995bn of MLF mature today
But, as the headline says, its an offset to maturing Medium-term Lending Facility (MLF) funds. With Lunar New Year approaching there will be further fund injections to cover cash demand over the holidays.
more to come
This article was written by Eamonn Sheridan at www.forexlive.com. Source