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China central bank injects 150 bln yuan of liquidity via reverse repos

2020-6-5 12:50

 

BEIJING, June 5 (Xinhua) -- China's central bank on Friday pumped cash into the banking system via reverse repos to maintain liquidity.

The People's Bank of China injected 150 billion yuan (about 21.1 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 the website of the central bank.

The move aims to offset the impact of factors including the maturity of reverse repos and financial institutions' deposit reserves to keep liquidity in the banking system at a reasonably sufficient level, the statement said.

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.

Since the novel coronavirus outbreak, China has increased policy support on the monetary and fiscal fronts to help businesses, especially small ones, to tide over difficulties.

China will pursue a prudent monetary policy in a more flexible and appropriate way, according to this year's government work report.

The country will use a variety of tools including reserve requirement ratio cuts, interest rate reductions and re-lending to enable M2 money supply and aggregate financing to grow at notably higher rates than last year, said the report.

 

北京,6月5日(新华社)——中国央行周五通过逆回购向银行系统注入现金,以保持流动性。


根据央行网站上的一份声明,中国人民银行以2.2%的利率通过7天逆回购向市场注入了1500亿元人民币(约211亿美元)。


该声明称,此举旨在抵消逆回购期限和金融机构存款准备金等因素的影响,以保持银行体系流动性在合理充足的水平。


逆回购是央行通过竞价从商业银行购买有价证券,并与商业银行达成未来再出售的协议的过程。


新型冠状病毒爆发以来,中国加大了货币和财政政策支持力度,帮助企业特别是小企业渡过难关。


根据今年的政府工作报告,中国将实行更加灵活适度的稳健货币政策。


该报告称,中国将使用包括下调存款准备金率、降息和再贷款在内的多种工具,以使M2货币供应量和总融资的增长率明显高于去年。

 

来自: xinhua