China’s central bank adds liquidity through reverse repos
China’s Central Bank conducted ¥2 billion (about $281.9 million) of seven-day reverse repos at an interest rate of 1.8 per cent, on Monday.
The move aims to keep liquidity in the banking system reasonable and ample, the People’s Bank of China said in a statement.
A reverse repo is a process by which a central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.
(Zinhua/NAN)
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