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China's central bank adds liquidity via reverse repos
(Xinhua) 10:28, October 09, 2022
BEIJING, Oct. 9 (Xinhua) -- China's central bank on Sunday conducted a total of 2 billion yuan (about 281.7 million U.S. dollars) 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.
(Web editor: Shi Xi, Du Mingming)
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