xinhua silk road logo xinhua silk road logo
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

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.

Start a Free Trial

maritime silk road search
Macro-economy

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.

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

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.

Start a Free Trial