PBOC Ramps Up Net Purchases of Sovereign Bonds in September
- Central bank doesn’t mention tenors, timing of operations
- It had bought short-term bonds, sold longer tenors last month
The People's Bank of China in Beijing.
Source: Bloomberg
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China’s central bank said it bought a net 200 billion yuan ($28.5 billion) of bonds from dealers in September, surpassing the amount of notes purchased last month.
The People’s Bank of China said in a statement the operation was aimed at keeping banking system liquidity reasonably ample, and strengthening counter-cyclical adjustments of monetary policy. The central bank didn’t specify the tenor of debt it purchased this month or when the operation took place. Last month, it bought short-tenor government bonds and sold long-tenor notes.