Member ID:
Stay logged in for 30 days
Forget Your Password?

login CCFGroup App

Economy | Time: Sep 27 2019 3:59PM
China's central bank drains 10 bln yuan from market
Text size
China's central bank drained 10 billion yuan (about 1.41 billion U.S. dollars) from the financial system on Friday, with more reverse repos maturing than conducted.

The People's Bank of China injected a total of 30 billion yuan into the market through 14-day reverse repos at the interest rate of 2.7 percent, the central bank said on its website.

With 40 billion yuan worth of reverse repos maturing on the same day, this led to a net liquidity withdrawal of 10 billion yuan.

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.

China vowed to keep its prudent monetary policy "neither too tight nor too loose" while maintaining market liquidity at a reasonably ample level in 2019.

Source: Xinhua.net
Related Articles
Pared social insurance payment to bail out enterprises
China to ensure economic growth within reasonable range Premier Li
China to further slash taxes, fees for manufacturing sector
China's central bank injects liquidity into market
China's foreign trade up 3.4 percent in 2019
China's yuan strengthens to 5-month high
Nation's per capita GDP to cross $10,000
China's 2019 tax, fee cuts expected to total 2.36t yuan: ministry
European stocks seen higher as global markets rally on easing
Foreign firms to gain broader market access
2020 MEG market outlook and trading risk management
2019 polyester market operation & 2020 forecast
Review and brief outlook on acrylic market
2019 state cotton reserves sales structure analysis
China PET bottle chip supply demand change and future trend
Operation and development of virgin PSF and recycled PSF