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China's central bank conducts reverse repos to boost liquidity
(Xinhua) 11:25, November 08, 2022
BEIJING, Nov. 8 (Xinhua) -- China's central bank Tuesday conducted a total of 2 billion yuan (about 277.2 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 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.
(Web editor: Cai Hairuo, Liang Jun)
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