China's central bank conducts reverse repos to boost liquidity
11:15 UTC+8, 2022-11-28
0
China's central bank Monday conducted 55 billion yuan (US$7.68 billion) of reverse repos to maintain liquidity in the banking system.
11:15 UTC+8, 2022-11-28
0
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.
Source: Xinhua
Editor: Zhu Ying
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