App

China's central bank adds liquidity via reverse repos
Updated: October 23, 2023 10:56 Xinhua

BEIJING, Oct. 23 -- China's central bank conducted 808 billion yuan (about 112.55 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Monday.

The move aims to hedge against the potential squeeze on liquidity in the banking system from the tax busy season and government bond issuance, so as to keep liquidity 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.

Copyright© www.gov.cn | About us | Contact us

Website Identification Code bm01000001 Registration Number: 05070218

All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to www.gov.cn.

Without written authorization from www.gov.cn, such content shall not be republished or used in any form.

Mobile

Desktop

Copyright© www.gov.cn | Contact us

Website Identification Code bm01000001

Registration Number: 05070218