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Liquidity injections into the banking system moderate

  • Published 02 Jul 2010

The People's Bank of China injected a further Rmb 67bn through open market operations this week, according to data released Friday. The injection was down from Rmb 211bn the previous week, as the need to address a liquidity shortage in the banking system eases entering July when the first half reporting period comes to pass.

The one-month Shanghai Interbank Offered Rate (SHIBOR), which has risen significantly in previous weeks from 1.7986% on May 17 to 4.0525% on June 25, also fell back to 3.5092% on July 1. Two-week SHIBOR, which rose all the way from 1.7375% on May 17 to 3.3417% on June 30, fell to 3.1092% on July 1.

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