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Economy

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

November 16, 2021


Abstract : China's central bank Tuesday injected 50 billion yuan (about 7.8 billion U.S. dollars) into the financial system via reverse repos.

BEIJING, Nov. 16 (Xinhua) -- China's central bank Tuesday injected 50 billion yuan (about 7.8 billion U.S. dollars) into the financial system via reverse repos.

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

The move aims to keep the liquidity in the banking system reasonably stable, 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. Enditem

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Keyword: central bank reverse repos

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