China's central bank injects liquidity into market

2019-10-24 03:24:14 GMT2019-10-24 11:24:14(Beijing Time)?Xinhua English

BEIJING, Oct. 24 (Xinhua) -- China's central bank pumped 60 billion yuan (8.49 billion U.S. dollars) into the financial system Thursday.

The People's Bank of China injected 60 billion yuan into the market through seven-day reverse repos at an interest rate of 2.55 percent.

With no reverse repos maturing Thursday, this led to a net injection of 60 billion yuan.

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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