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China’s central bank continues to inject liquidity into market

Updated: Aug 21,2018 3:01 PM     Xinhua

BEIJING — China’s central bank injected funds of 50 billion yuan ($7.31 billion) through open market operations on Aug 21 to ease liquidity pressure.

The People’s Bank of China (PBOC) said in a statement that it made the operations via seven-day reverse repos with an interest rate of 2.55 percent to offset the impacts from payment for new government bonds.

The move followed net liquidity injection of 120 billion yuan via the same financial instrument on Aug 20. No previous reverse repos matured on Aug 21.

The PBOC will make policies more forward-looking, flexible and effective, maintain proper control over the floodgate of money supply and keep liquidity at a reasonable and abundant level, according to a quarterly report released earlier this month.

China’s prudent monetary policy will be “kept neutral and be neither too tight nor too loose,” said the report.

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