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Economy

China's central bank adds liquidity via reverse repos

July 08, 2022


Abstract : China's central bank on Friday conducted 3 billion yuan (about 447 million U.S. dollars) of reverse repos to maintain liquidity in the banking system.

BEIJING, July 8 (Xinhua) -- China's central bank on Friday conducted 3 billion yuan (about 447 million U.S. dollars) of reverse repos to maintain liquidity in the banking system.

The interest rate for the seven-day reverse repos was set at 2.1 percent, according to the People's Bank of China.

The move aims to keep stable liquidity in the banking system, the central bank said.

A total of 10 billion yuan of reverse repos matured on the same day, resulting a net withdrawal of 7 billion yuan.

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