China's central bank injects liquidity into market

Source: Xinhua| 2019-10-25 11:01:39|Editor: huaxia
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BEIJING, Oct. 25 (Xinhua) -- China's central bank pumped 30 billion yuan (about 4.24 billion U.S. dollars) into the financial system Friday.

The People's Bank of China injected 30 billion yuan into the market through seven-day reverse repos at an interest rate of 2.55 percent.

With 30 billion yuan of reverse repos maturing Friday, this led to no net injection.

A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

China keeps its prudent monetary policy "neither too tight nor too loose" while maintaining market liquidity at a reasonably ample level in 2019.

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