BEIJING, Dec. 27 (Xinhua) -- The People’s Bank of China, China’s central bank, conducted on Monday 40 billion yuan (about 5.76 billion U.S. dollars) of 7-day reverse repos, 20 billion yuan of 14-day reverse repos and 10 billion yuan of 28-day reverse repos with the interest rate remaining flat at 2.25 percent, 2.40 percent and 2.55 percent.
Given that about 140 billion of reverse repos were due on Monday, the central bank drained a total of 70 billion yuan out of the financial system via open market operation.
Although a total of 845 billion yuan of reverse repos will mature during the last week of December, market liquidity is likely to remain ample thanks to massive release of fiscal deposits, which are estimated to hit about 1.2 trillion yuan, according to Hua Chuang Securities. Enditem (Edited by Yang Yifan, yangyifan@xinhua.org)
A single purchase
