China's central bank conducts 50 bln yuan of reverse repos

Source: Xinhua| 2021-08-30 09:54:31|Editor: huaxia

BEIJING, Aug. 30 (Xinhua) -- China's central bank on Monday conducted 50 billion yuan (7.7 billion U.S. dollars) of reverse repos to maintain reasonably ample liquidity in the banking system.

The interest rate for the seven-day reverse repos was set at 2.2 percent, according to a statement on the website of the People's Bank of China.

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. Enditem

KEY WORDS: China,Economy,Market liquidity