(Yicai Global) Sept. 22 -- China's central bank, the People's Bank of China (PBOC), injected USD18.5 billion (CNY120 billion) from the financial system via open market operation today, while withdrawing CNY120 billion.
PBOC conducted seven-day reverse repurchases of CNY100 billion and 28-day reverse repos of CNY20 billion, offset by CNY120 billion of previous reverse repos maturing today.
The seven-day reverse repo bid rate was 2.45 percent and the 28-day rate was 2.75 percent, all unchanged from the last open market operation.
The overnight Shanghai Interbank Offered Rate (SHIBOR) fell 4.97 basis points to 2.7560 percent. The one-week term rate dropped 1.10 basis points to 2.8580 percent. The SHIBOR for 3-month loans decreased 0.64 basis points to 4.3611 percent.