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China central bank injects 600 billion yuan through overnight reverse repos

BY Reuters | ECONOMIC | 09:29 PM EDT

SHANGHAI, June 30 (Reuters) - China's central bank conducted overnight reverse repo operations again on Tuesday, offering 600 billion yuan ($88.3 billion) to financial institutions, it said in an online statement, without disclosing the borrowing cost.

The People's Bank of China (PBOC) also said it injected 69.5 billion yuan through seven-day reverse repos, with the rate unchanged at 1.4%, according to the statement.

The PBOC debuted its overnight liquidity tool on Monday and set the interest rate at 1.25%, sources told Reuters.

($1 = 6.7936 Chinese yuan) (Reporting by Shanghai Newsroom; Editing by Tom Hogue)

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