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Beijing (CNS) -- The People's Bank of China on Tuesday implemented a reverse repurchase open market operation for 143 billion yuan (US$22.53 billion) of bonds, the second time in half a month.
This is the fourth and largest amount of reverse repurchase within the year. The last time, on June 26, PBC put 95 billion yuan (US$14.97 billion) into the market this way.
It is rare for the PBC to make this sort of move repeatedly in what is admittedly a short period of time, but necessary, market insiders insist. The liquidity of China's banking system took a steep plunge due to a sharp slowdown of funds outstanding on foreign exchanges.
Many an institution predict that the PBC is likely to lower the deposit reserve ratio in late July to put yet more money on the market, the fourth regulation downwards since November.
China should turn to a stable and loose monetary policy, suggested the international finance institution, the Bank of China, in their report, adding that the trend will continue into the second half of the year with one to two reserve requirement ratio decreases.
Chinese wanton women.
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