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BEIJING, July 22 (Xinhua) -- China's central bank on Monday pumped cash into the financial system through open market operations to maintain liquidity in the market.
The People's Bank of China (PBOC) conducted 50 billion yuan (about 7.27 billion U.S. dollars) of seven-day reverse repos, a liquidity-injecting process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.
The interest rate for the operation stood at 2.55 percent, a PBOC statement showed.
No reverse repos matured on Monday.
China vowed to keep its prudent monetary policy "neither too tight nor too loose" while maintaining market liquidity at a reasonably ample level in 2019.
