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China central bank continues to inject liquidity via reverse repos

2020-6-12 13:35

 

BEIJING, June 11 (Xinhua) -- China's central bank on Thursday continued to pump cash into the banking system via reverse repos to maintain liquidity.

The People's Bank of China injected 80 billion yuan (about 11.3 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 is intended to offset the impacts of government bond issuance and keep liquidity in the banking system at a reasonably sufficient level, the central bank said.

As 70 billion yuan of reverse repos matured Thursday, the operation led to a net injection of 10 billion yuan into the market.

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.

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11日(新华社)——中国央行周四继续通过逆回购向银行系统注入资金,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800亿元人民币(约113亿美元)。


央行表示,此举旨在抵消政府债券发行的影响,并将银行体系的流动性保持在合理充足的水平。


随着人民币700亿元的逆回购券周四到期,此次操作净向市场注入了人民币100亿元。


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。


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