Some analysts doubt the move will be enough to prevent the country’s stocks and currency falling on Monday, but it may ease a global sell-offDubai — China’s central bank said Sunday it will inject up to 1.2-trillion yuan of liquidity in seeking to avert a potential sell-off from the coronavirus outbreak.
The central bank said it will use reverse repurchase agreements to supply 1.2-trillion yuan of liquidity on Monday. The figure is 150-billion yuan on a net basis, according to Bloomberg calculations.“This is well beyond the band-aid fix,” said Stephen Innes, a Bangkok-based chief market strategist at Axicorp. “If this deluge doesn’t hold risk-off at bay, we are in for a colossal beat down.
The measures from China’s regulators will “help cushion markets”, said Mansoor Mohi-uddin, a senior strategist at NatWest Markets in Singapore.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia restricts land border with China as virus panic spreadsMarkets shudder at the thought of what might happen if the situation worsens in the world's second-biggest economy
Source: BDliveSA - 🏆 12. / 63 Read more »