PBoC makes $122 billion injection as default fears rise
Chinese central bank makes year’s largest market injection days after large power firm defaults
The People’s Bank of China made its largest injection of credit into markets this year on November 16, days after a power company defaulted on its debt.
The PBoC injected 800 billion yuan ($122 billion) in one-year medium-term lending facilities (MLF) into credit markets. Its move came after a power company owned by a provincial company defaulted on its debt, sending shockwaves to credit markets.
The PBoC has been putting net injections into the financial market via MLF operations for four
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