Creating liquidity, China’s central bank to inject $149 billion daily before holidays

China’s central bank announced Wednesday that it will inject up to 1 trillion yuan ($149 billion) per day through short-term liquidity tools as the Golden Week holiday approaches.

The People’s Bank of China stated it will conduct overnight reverse repo operations from September 28 to October 8 to address short-term liquidity needs in the banking system.

The bank did not specify on which days it would conduct the operations or reveal the borrowing cost. Liquidity demand typically increases before holidays in China.

China’s interbank bond market will close from October 1 to October 7 for the National Day holiday, according to its website. The interbank market will also shut down from September 25 to September 27 for the Mid-Autumn Festival.