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China's central bank injects 180 bln yuan into market Friday

2020-6-19 10:59

 

BEIJING, June 19 (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 a total of 180 billion yuan (about 25.4 billion U.S. dollars) into the market, including 70 billion yuan through seven-day reverse repos at an interest rate of 2.2 percent and 110 billion yuan of 14-day contract at an interest rate of 2.35 percent, according to a statement on the website of the central bank.

The move is intended to maintain stable liquidity in the banking system, the central bank said.

As 100 billion yuan of reverse repos and 240 billion yuan of medium-term lending facility (MLF) matured Friday, the operation led to a net withdrawal of 160 billion yuan from 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 required reserve ratio reductions, interest rate cuts, 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19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。


中国人民银行注入1800亿元(约254亿美元)进入市场,包括700亿元通过7天逆回购的利率为2.2%,1100亿元的合同14天的利率为2.35%,根据中央银行在其网站上发表声明。


央行表示,此举旨在保持银行体系流动性稳定。


随着1000亿元人民币的逆回购和2400亿元人民币的中期贷款便利(MLF)上周五到期,操作导致从市场净撤出1,600亿元人民币。


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,中国将使用各种工具,包括降低存款准备金率、降息和再贷款,以使M2货币供应量和总融资的增长速度明显高于去年。

 

来自: xinhua