News

China injects record CNY 560 billion via reverse repo operations

China has stepped up efforts to shore up its sagging economy.

The People's Bank of China injected CNY 560 billion in the system on Wednesday via reverse repo operations - the biggest on record.

The move comes a day after the central bank assured markets of providing "enough support" to the economy. The finance ministry is reportedly planning "large tax cuts" as well, although flood-like stimulus is being ruled out, given the cost of massive stimulus tends to exceed the benefits.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.