The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.
Click on the button below to create your account and get immediate access to thousands of articles.
PBOC withdraws 50 bln yuan from market
June 11, 2019
Abstract : China's central bank drained 50 billion yuan (about 7.25 billion U.S. dollars) from the financial system Tuesday, with more reverse repos maturing than conducted.
BEIJING, June 11 (Xinhua) -- China's central bank drained 50 billion yuan (about 7.25 billion U.S. dollars) from the financial system Tuesday, with more reverse repos maturing than conducted.
The People's Bank of China (PBOC) injected 10 billion yuan into the market through seven-day reverse repos at an interest rate of 2.55 percent, with 60 billion yuan of reverse repos maturing, leading to a net withdrawal of 50 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 will keep its prudent monetary policy "neither too tight nor too loose" while maintaining market liquidity at a reasonably ample level in 2019.
Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.
Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.