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China's central bank adds liquidity via reverse repos

China's central bank adds liquidity via reverse repos
22 May 2024 13:01

BEIJING (WAM)

China's central bank conducted 2 billion yuan (about $281.38 million) of seven-day reverse repos at an interest rate of 1.8 per cent on Wednesday.

The move aims to keep liquidity reasonable and ample in the banking system, Xinhua quoted the People's Bank of China as saying 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.

Source: WAM
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