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China’s central bank injects liquidity into market Thursday

Abstract : China's central bank injected liquidity into the banking system through open market operations on Thursday.

BEIJING, Dec. 3 (Xinhua) — China’s central bank injected liquidity
into the banking system through open market operations on Thursday.

The People’s Bank of China injected 10 billion yuan (about 1.52
billion U.S. dollars) into the market through seven-day reverse repos at
an interest rate of 2.2 percent, according to a statement on its
website.

With 80 billion yuan of reverse repos maturing on the same day, this
led to a net liquidity withdrawal of 70 billion yuan from the market.

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.

China’s central bank has pledged to make its prudent monetary policy
more targeted and flexible to adapt better to the needs of high-quality
development and put more focus on the efficiency of financial services
to support the real economy.

More efforts will go into improving the money supply regulation
mechanism to maintain reasonable and sufficient liquidity, the central
bank said in its third-quarter monetary policy report last week, ruling
out the possibility of a “flood-like” stimulus. Enditem

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Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China’s central bank injects liquidity into market Thursday

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