Abstract : China's central bank Tuesday conducted 10 billion yuan (about 1.53 billion U.S. dollars) of reverse repos to maintain reasonably ample liquidity in the banking system.
BEIJING, March 9 (Xinhua) — China’s central bank Tuesday conducted
10 billion yuan (about 1.53 billion U.S. dollars) of reverse repos to
maintain reasonably ample liquidity in the banking system.
The interest rate for the seven-day reverse repos was set at 2.2
percent, according to a statement on the website of the People’s Bank of
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.
China’s central bank has pledged to make its prudent monetary policy
more targeted and flexible to adapt better to the needs of high-quality
development and put more focus on the efficiency of financial services
to support the real economy. Enditem
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Source: China’s central bank conducts 10 bln yuan of reverse repos