China’s central bank adds liquidity via reverse repos

Beijing, May 14 (BNA):  China’s central bank conducted 2 billion yuan (about 281.48 million U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Tuesday.

The move aims to keep liquidity reasonable and ample in the banking system, the People’s Bank of China said in a statement, Xinhua reported.

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.

H.H

#Chinas #central #bank #adds #liquidity #reverse #repos

Source link

READ MORE  BAS enlists SITA to deliver new airport management system

Leave a Comment