BEIJING, June 12 (Xinhua) -- The People's Bank of China (PBOC), China's central bank, on Wednesday pumped a total of 35 billion yuan (about 5.08 billion U.S. dollars) into the financial system through open market operations.
The People's Bank of China (PBOC) injected 15 billion yuan into the market through seven-day reverse repos at an interest rate of 2.55 percent, and another 20 billion yuan of 28-day reverse repos at an interest rate of 2.85 percent.
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.
