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China central bank to step up cash injection before Lunar New Year: Report

China's central bank is set to "timely replenish" liquidity shortfalls before the Lunar New Year holiday, the state-owned China Securities Journal said

Photo: Bloomberg
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Photo: Bloomberg

Reuters Shanghai
China's central bank is set to "timely replenish" liquidity shortfalls before the Lunar New Year holiday, the state-owned China Securities Journal said on Wednesday.

The People's Bank of China (PBOC) will likely step up cash injections through open market operations into the banking system from the second half of the month to meet rising demand for cash from both companies and households ahead of the week-long holiday, which starts from Jan. 31 this year, the official newspaper reported.

"Many financial institutions believe it is certain that the central bank will maintain reasonably ample liquidity ... and the it is likely to use

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