China's central bank adds liquidity via reverse repos
11:36 UTC+8, 2022-08-23
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China's central bank on Tuesday conducted 2 billion yuan (US$291.87 million) of reverse repos to maintain liquidity in the banking system.
11:36 UTC+8, 2022-08-23
0
China's central bank on Tuesday conducted 2 billion yuan (US$291.87 million) of reverse repos to maintain liquidity in the banking system.
The interest rate for the seven-day reverse repos was set at 2 percent, according to the People's Bank of China.
The move aims to keep stable liquidity in the banking system, the central bank said.
A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.
Source: Xinhua
Editor: Wang Qingchu
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