China Pumps US$22.14 Billion Into The Financial System

China’s central bank continued to inject funds into the financial system through open market operations on Monday.

The People’s Bank of China said on its website that it has conducted 150 billion yuan (about 22.14 billion U.S. dollars) of seven-day reverse repos at an interest rate of 2 percent.

The move is aimed at keeping liquidity reasonable and ample in the banking system, according to the central bank.

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

Previous articleSubang Airport Regeneration Plan Approved By Cabinet: Loke
Next articleBeyonce Wins 32nd Grammy Awards Creates History As Most Decorated Artist


Please enter your comment!
Please enter your name here