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China's central bank injects liquidity into market

Xinhua | Updated: 2019-05-08 12:09
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The People's Bank of China headquarters in Beijing, Aug 3, 2018. [Photo/IC]

BEIJING - China's central bank injected funds into the monetary market on Wednesday to maintain ample liquidity in the banking system.

The People's Bank of China conducted 10 billion yuan ($1.48 billion) of seven day reverse repos at an interest rate of 2.55 percent.

No reverse repos will mature on Wednesday.

A reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

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