PBOC continues to inject liquidity into market

BEIJING, July 19 (Xinhua): The People's Bank of China (PBOC), the central bank, on Friday continued to pump cash into the financial system through open market operations to maintain liquidity in the market.

The PBOC conducted 100 billion yuan (14.57 billion US 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 move followed a similar operation of conducting 100 billion yuan of seven-day reverse repos on Thursday. The interest rate for the operation remained at 2.55 per cent, the PBOC said in a statement.