China's central bank adds liquidity via reverse repos

Fri 26-08-2022 01:59 AM

BEIJING, 25th August, 2022 (WAM) –China’s central bank on Thursday conducted 2 billion yuan (about 291.82 million U.S. dollars) of reverse repos to maintain liquidity in the banking system, Xinhua reported.

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.

WAM/Hatem Mohamed

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China’s central bank adds liquidity via reverse repos