Industries > Finance

China's central bank conducts reverse repos to boost liquidity

2022-10-24 10:52

Already collect

BEIJING, Oct. 24 (Xinhua) -- China's central bank Monday conducted a total of 10 billion yuan (about 1.4 billion 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.
Add comments

Latest comments

Latest News
News Most Viewed