China Cash Squeeze Rolls on Even After PBOC Liquidity Boosts [Yahoo! Finance Canada]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The volume-weighted average rate of seven-day repurchase transactions in the money market, a gauge of borrowing costs, climbed to 2.32%, the highest since October 2023. Late Wednesday there were some failed trades and a 10 minute delay to the official close of a clearing system, according to traders who asked not to be identified as they are not allowed to speak publicly. The People's Bank of China injected another 336.4 billion yuan ($45.9 billion) of short-term funds into the banking system on Thursday, following its second largest ever cash infusion in the previous session. That was aimed at offsetting the impact of the expiration of medium-term lending, peak tax season and cash demand before Lunar New Year holidays, and to keep liquidity ample, it said in a statement. China's week-long Lunar New Year holiday begins this year on January 28. Complicating matters for the PBOC is pressure on the yuan and government bond yields from concerns about Chin
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