China pours $67 bn into financial system before holiday

China's economy grew at its slowest rate in a quarter of a century in 2015 at 6.9 percent, raising expectations for further cuts in interest rates or reserve requirementsChina’s central bank said Tuesday it was injecting 440 billion yuan ($67 billion) into the money market, seeking to ease tight liquidity ahead of the Lunar New Year holiday when demand for funds surges. The injection through the regular open market operations of the People’s Bank of China (PBoC) was the largest since 2013, Bloomberg News reported. “It is standard practice for the PBoC to inject large amounts of liquidity into the banking system ahead of Chinese New Year,” Capital Economics said in a research report last week.

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