2023-04-20 05:55:00
The People’s Bank of China aims to maintain reasonable and ample liquidity in the banking system
The People’s Bank of China (the central bank) on Thursday continued to inject money into the financial system through open market operations.
The People’s Bank of China said in a statement posted on its website that it conducted a seven-day reverse repo transaction of 34 billion yuan (regarding 4.93 billion US dollars) at an interest rate of 2 percent.
The move aims to maintain reasonable and ample liquidity in the banking system, according to the central bank.
Reverse repo operations, known as a “reverse repo”, are operations in which the central bank buys securities from commercial banks through bidding, with an agreement to sell them back to them in the future.
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