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670b yuan of reverse repo contracts to mature next week

Updated: Jun 23,2018 4:39 PM     Xinhua

BEIJING — A total of 670 billion yuan (about $103 billion) of reverse repos are set to mature in the coming week.

To maintain ample liquidity, the People’s Bank of China, the country’s central bank, has kept injecting funds into the money market through open market tools in the past week to offset factors including maturing reverse repo deals and deposit of required reserves.

Rather than across-the-board rate cuts and reserve requirement ratio adjustments, China relies on open market operations to inject or withdraw liquidity.

China has decided to maintain a prudent and neutral monetary policy in 2018 as it strives to balance growth and risk.