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China's central bank adds liquidity via reverse repos
(Xinhua) 11:22, April 07, 2024
BEIJING, April 7 (Xinhua) -- China's central bank conducted 2 billion yuan (about 281.89 million U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Sunday.
The move aims to keep liquidity in the banking system reasonable and ample, the People's Bank of China said in a statement.
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: Tian Yi, Liang Jun)
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