PBoC makes $122 billion injection as default fears rise

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PBoC

The People’s Bank of China

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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