Arab Today, arab today central bank starts 48bn repurchase operation
Last Updated : GMT 23:18:29
Arab Today, arab today
Arab Today, arab today

Central bank starts $4.8bn repurchase operation

Arab Today, arab today

Arab Today, arab today Central bank starts $4.8bn repurchase operation

Beijing - XINHUA

The People\'s Bank of China (PBOC) on Tuesday started a 28-day repurchase operation worth 30 billion yuan (4.8 billion U.S. dollars) for the first time since June, according to a statement on its website. A repurchase operation is a central bank operation to withdraw funds in the open market to prevent rampant liquidity. Chinese stocks dived on Tuesday, with the benchmark Shanghai Composite Index plunging 1.6 percent on the heels of the central bank\'s move. The PBOC started the repurchase operation shortly after the seven-day Spring Festival holiday, in a bid to address the potential for excessive liquidity and a rapid increase in foreign exchange among financial institutions, analysts said. Zhou Jingtong, a PBOC researcher, said the surge in China\'s exports is likely to greatly increase the funds outstanding for foreign exchange, calling for the PBOC\'s repurchase operation. The country\'s exports surged 25 percent year on year in January, marking the fastest pace since April 2011 and up from the 14.1 percent rise in December 2012. Meanwhile, the PBOC also suspended the offering of reverse repurchase (repo) agreements for the first time in the past eight months. The PBOC provided a huge reverse repo worth a total of 860 billion yuan in the week ahead of the Chinese Lunar New Year, which fell on Feb. 10 this year. It recorded a record-high fund injection in a single week, which guaranteed liquidity during the holiday in case money market rates skyrocketed on rising cash demand. Analysts also said the repurchase operation is not a signal that the central government is changing the monetary policy, as this would require more observation. Lu Zhengwei, chief economist with Industrial Bank, also said he believes the operation is an annual routine around the Spring Festival and does not signal a tightening monetary policy.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today central bank starts 48bn repurchase operation Arab Today, arab today central bank starts 48bn repurchase operation

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday