China central bank pumps in 1.2 trillion yuan to cushion virus’ impact on economy | The Malaysian Insight

China central bank pumps in 1.2 trillion yuan to cushion virus’ impact on economy

A girl runs trough the airport terminal with protection mask against the coronavirus in Guangzhou. – EPA pic, February 2, 2020.

CHINA’S central bank today said it would pump 1.2 trillion yuan into the economy as it ramps up support for a nationwide fight against a deadly virus that is expected to hit growth. The People’s Bank of China said in a statement it would launch a 1.2 trillion yuan reverse repurchase operation tomorrow to maintain “reasonable and abundant liquidity” in the banking system, as well as a stable currency market, during the epidemic.

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