China's central bank injects liquidity into market

BEIJING - China's central bank pumped 180 billion yuan ($25.71 billion) into the financial system Monday.

The People's Bank of China injected the money into the market through seven-day reverse repos at an interest rate of 2.5 percent. No reverse repos matured Monday.

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 keeps its prudent monetary policy "neither too tight nor too loose" while maintaining market liquidity at a reasonably ample level in 2019.