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China's central bank injects liquidity into market

2019-09-10 11:32

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BEIJING, Sept. 10 (Xinhua) -- China's central bank pumped 80 billion yuan (about 11.29 billion U.S. dollars) into the financial system Tuesday, according to the bank's latest statement.

The People's Bank of China injected 80 billion yuan into the market through seven-day reverse repos at an interest rate of 2.55 percent.

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

China will keep 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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