BUSINESS China interbank money market turnover rises

BUSINESS

China interbank money market turnover rises

Xinhua

17:21, August 18, 2019

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(File photo: VCG)

BEIJING, Aug. 18 (Xinhua) -- China's interbank money market saw 90.6 trillion yuan (about 12.89 trillion U.S. dollars) in transactions in July, up 17.23 percent year on year, data from the People's Bank of China (PBOC) showed.

The pledged repo turnover grew 18.06 percent to 75.8 trillion yuan and outright repo turnover was 0.8 trillion yuan, down 14.38 percent. Interbank borrowing turnover increased 15.24 percent year on year to 14 trillion yuan in July.

The PBOC conducted 30 billion yuan of seven-day reverse repos and injected 400 billion yuan into the market via medium-term lending facility (MLF) Thursday to maintain liquidity in the market.

China will keep its prudent monetary policy "neither too tight nor too loose" while maintaining market liquidity at a reasonably ample level in 2019, according to the annual Central Economic Work Conference held in December. 

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