China’s central bank conducts ¥32 billion reverse repos to sustain liquidity
China’s central bank conducted ¥32 billion (about $4.51 billion) of seven-day reverse repos at an interest rate of 1.8 per cent on Monday.
The move was 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 in which the Central Bank purchases securities from commercial banks through bidding with an agreement to sell them back in the future.
(Xinhua/NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Anti-Corruption
EFCC arrests 11 suspected internet fraudsters in Abuja
“Items recovered from them include three cars and 13 phones.”
Education
UNILORIN expels 14 students for examination malpractice
According to him, the affected students include 400, 500, 300, and 100-level students.
Economy
Dollar hits N1,700 in Lagos; pound sterling now N2,100
In July, the Association of Nigerian Licensed Customs Agents (ANLCA) complained that floating the nation’s currency had caused a drop in vehicle importation in the nation’s ports.
NationWide
Rising insecurity, hunger in Nigeria under Tinubu recipe for disaster: Peter Obi
“We must, therefore, take all possible measures to ensure the security of lives and property in our dear nation.”
World
UN considers appointing envoy to engage with Taliban
The Taliban refused to attend the UN-chaired high-level meeting of various countries’ special representatives for Afghanistan.
World
Alleged German cult leader goes on trial for rape, torture
The man was allegedly accused of having brutally raped and physically assaulted his former partner last May.
