Industries > Finance

China's central bank conducts reverse repos to boost liquidity

BEIJING
2022-11-18 10:30

Already collect



BEIJING, Nov. 18 (Xinhua) -- China's central bank Friday conducted 21 billion yuan (about 2.95 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 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.
Add comments

Latest comments

Latest News
News Most Viewed