China's central bank injects liquidity into market

Source: Xinhua| 2021-09-18 09:42:33|Editor: huaxia

BEIJING, Sept. 18 (Xinhua) -- China's central bank Saturday conducted a total of 100 billion yuan (about 15.5 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system.

The amount included 50 billion yuan of seven-day reverse repos at an interest rate of 2.2 percent, and 50 billion yuan of 14-day reverse repos at an interest rate of 2.35 percent, according to 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