The move aims to keep liquidity reasonable and ample in the banking system and improve the accuracy and effectiveness of open market operations, the central bank said in a statement.
These overnight temporary repos and reverse repos will be conducted through bidding, with their interest rates set based on the seven-day reverse repos.
A repo, or repurchase agreement, is a process in which the central bank sells bonds to financial institutions and promises to buy them back in the future.
Latest comments