SHANGHAI (Reuters) - China's central bank will inject 20 billion yuan (2.36 billion pounds) into the money markets through seven-day reverse bond repurchase agreements and an additional 80 billion yuan through 28-day reverse repos on Friday, traders said.
This will bring total net injections into the market this week to 690 billion yuan, the biggest weekly injection on record by Reuters calculations, after the central bank conducted open market operations three times this week.
The People's Bank of China (PBOC) said on Thursday it will increase the frequency of open market operations between Jan. 29 and Feb. 19 to maintain liquidity in the market during the Lunar New Year period.
The PBOC conducted a net injection of 315 billion yuan into the market last week.