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Monday, August 12, 2019, 14:25
PBOC resumes open market operations after 14-day suspension
By Xinhua
Monday, August 12, 2019, 14:25 By Xinhua

This Aug 3, 2018 photo shows the headquarters of the People's Bank of China in Beijing. (PHOTO / VCG)

BEIJING The People's Bank of China (PBOC), the central bank, resumed open market operations Monday after a suspension for 14 trading days, injecting liquidity into the market.

The PBOC conducted 30 billion yuan of seven-day reverse repos

ALSO READ: Central bank resumes reverse repos to maintain liquidity

The PBOC conducted 30 billion yuan (US$4.27 billion) 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.

No reverse repos matured on Monday.

READ MORE: China's central bank injects liquidity via reverse repos

China vowed to keep its prudent monetary policy "neither too tight nor too loose" and make counter-cyclical adjustments in a timely and moderate manner, the central bank said Friday in its second-quarter monetary policy report, adding that the country will not resort to flood-like stimulus policies.

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