Central bank to float 1-year bills on June 7
Updated: 2011-06-03 19:22
BEIJING - The People's Bank of China, the country's central bank, said on Friday that it would sell one-year bills totaling 2 billion yuan (about $308 million) starting June 7.
The sale is aimed at maintaining steady growth for China's base currency and keeping interest rates stable, the central bank said in a statement on its website.
Published data showed that the central bank injected a total of 126 billion yuan of liquidity into the money market to ease commercial banks' cash flow over the past two weeks.
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