Posted by financialanalyst18 > 2015-08-26 22:08 | Report Abuse

China central bank injects $22B into economy Katy Barnato | @KatyBarnato 26 August 2015 4 Hours AgoCNBC.com China pumped 140 billion yuan ($21.8 billion) into its economy on Wednesday, in the central bank's latest bid to shore up slowing economic growth and waylay investors' fears of a "hard landing." The People's Bank of China (PBoC) injected billions of yuan into the interbank money market via a short-term liquidity operation, the bank said on its website. The loans mature in six days and have an average weighted bid rate of 2.3 percent. Short-term liquidity operations were introduced in 2013 by China to smooth fluctuations in liquidity and stabilize interbank funding costs. Wednesday's action came at a time of extreme market volatility in China and increased intervention by the central bank. On Tuesday, the PBoC announced a 25 basis point cut to its benchmark bank lending rate, to 4.6 percent. It also cut the reserve requirement for major banks by 50 basis points, to 18 percent. http://www.cnbc.com/2015/08/26/china-central-bank-injects-22b-into-economy.html