China central bank injects 50b yuan into market

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China central bank injects 50b yuan into market Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, Oct 8, 2018. [Photo/IC]

BEIJING - China's central bank pumped 50 billion yuan ($7.13 billion) into the financial system Monday.

The People's Bank of China injected 50 billion yuan into the market through 14-day reverse repos at an interest rate of 2.65 percent.

With no reverse repos maturing Monday, this led to a net injection of 50 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.

Chi2020 shows the flood water in Qijiang district of Chongqing municipalityna keeps its prudent monecomtary policy "neither too tight nor too loose" while maintaining market liquidity at a reasonably ample level in 2019.

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