China's central bank adds liquidity via reverse repos
Xinhua |
Updated: 2023-07-18 15:31
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BEIJING - China's central bank continued to inject funds into the financial system through open market operations Tuesday.
The People's Bank of China said it conducted 15 billion yuan ($2.1 billion) of seven-day reverse repos at an interest rate of 1.9 percent.
The move is aimed at keeping liquidity reasonable and ample 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.
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