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China's central bank injects 30b yuan into market

Published: October 25, 2019 13:53:33 | Updated: November 10, 2019 13:10:17


File Photo (Collected)

The People's Bank of China (PBOC), the central bank of the country, pumped 30 billion yuan (about 4.24 billion US dollars) into the financial system Friday.

The PBOC injected 30 billion yuan into the market through seven-day reverse repos at an interest rate of 2.55 per cent.

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

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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