BEIJING, March 15 (Xinhua) -- China's central bank injected liquidity into the money market through reverse repos Friday.
The People's Bank of China (PBOC) conducted 20 billion yuan (about 2.98 billion U.S. dollars) of seven-day reverse repos at an interest rate of 2.55 percent.
No reverse repos will mature on Friday.
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.
The operation is aimed at maintaining reasonable and sufficient liquidity in the banking system.
China's central bank has skipped open market operations for 11 consecutive trading days as of Thursday.
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 last year.
