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PBOC liquidity injection at monthly high

Xinhua | Updated: 2017-07-18 13:34

BEIJING — China's central bank on Tuesday pumped 200 billion yuan (about $30 billion) into the financial system through open market operations, the highest daily injection in the past month.

The operations included 130 billion yuan of seven-day reverse repos, with an interest rate of 2.45 percent, and 70 billion yuan of 14-day reverse repos, with an interest rate of 2.6 percent, the People's Bank of China said on its website.

The central bank aimed to offset the impacts from payments for taxes and government bonds, and maturing reverse repos and medium-term lending facilities.

Offset by 30 billion yuan of maturing reverse repos, net injection on Tuesday stood at 170 billion yuan, the highest daily net injection since June 16.

China has vowed to pursue a "prudent and neutral" monetary policy in 2017, apply a full range of policy instruments to maintain basic stability in liquidity and hold interest rates at an appropriate level.

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