Home > Xinhua News Agency
China's Central Bank Conducts Reverse Repos To Boost Liquidity
January 10th, 2023 | 10:35 AM | 255 views
xChina's central bank Tuesday conducted 2 billion yuan (about 295.81 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 is aimed at keeping liquidity stable 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.
courtesy of XINHUA NEWS AGENCY
by XINHUA NEWS AGENCY
If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]