China’s central bank injects liquidity into market

18th June, 2019 09:22:53 printer

BEIJING: The People's Bank of China (PBOC), the central bank, on Tuesday pumped liquidity into the financial system through open market operations.

The PBOC conducted 90 billion yuan (about 13 billion U.S. dollars) of 14-day reverse repo, a liquidity-injecting process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future, reports Xinhua.

The interest rate for the operation stood at 2.7 percent.

A total of 10 billion yuan of reverse repos matured on Tuesday, leading to a net liquidity injection of 80 billion yuan.