Money

PBOC to float 1-year bills on June 7

(Xinhua)
Updated: 2011-06-04 09:45

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 ($308 million) starting June 7.

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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.

China's markets will be closed Monday for the Duanwu or Dragon Boat Festival.