BEIJING, Sept. 18 (Xinhua) -- China's central bank Wednesday did not drain liquidity from the market as its reverse repos operation hedged the maturity amount Wednesday.
The People's Bank of China (PBOC) conducted 30 billion yuan (4.24 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 remained at 2.55 percent, the PBOC said in a statement.
Along with the reverse repos operation, 30 billion yuan of reverse repos matured Wednesday, resulting in zero liquidity injection into the market or zero liquidity withdrawal from the market.
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.
