China’s central bank injects liquidity into market

18 February, 2020 12:00 AM printer

BEIJING: China’s central bank pumped 100 billion yuan (about 14.33 billion U.S. dollars) into the financial system on Monday.

The People’s Bank of China (PBOC) injected 100 billion yuan into the market through seven-day reverse repos at an interest rate of 2.4 percent, reports Xinhua.

Meanwhile, a total of 1 trillion yuan of reverse repos matured Monday, resulting in a net withdrawal of 900 billion yuan from the market.

The move aims to keep liquidity in the banking system at a reasonably sufficient level, according to a statement on the website of the central bank.