The PBOC injected nearly $58B into money markets this week, the largest such move ever. This and...


The PBOC injected nearly $58B into money markets this week, the largest such move ever. This and other recent open market operations are of sharp contrast to much of the last decade when strong foreign capital inflows kept the central bank busy draining liquidity from the system. With speculative flows reversing, the PBOC must supply cash to the market.
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