BEIJING, Aug 23:The People’s Bank of China (PBOC), the central bank, on Friday continued to pump cash into the financial system through open market operations to maintain liquidity in the market.
The PBOC conducted 80 billion yuan (about 11.34 billion US dollars) of seven-day reverse repos, a liquidity-injecting process in which the central bank purchases securities from commercial banks through bidding with an agreement to sell them back in the future.
The interest rate for the operation remained at 2.55 percent, the PBOC said in a statement.
China will keep its prudent monetary policy “neither too tight nor too loose” while maintaining market liquidity at a reasonably ample level in 2019.
(agencies)
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