China's central bank conducts reverse repos to boost liquidity

Xinhua
China's central bank Monday conducted 55 billion yuan (US$7.68 billion) of reverse repos to maintain liquidity in the banking system.
Xinhua

China's central bank Monday conducted 55 billion yuan (US$7.68 billion) 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 liquidity in the banking system reasonable and ample, 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.


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