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China's central bank conducts 10 bln yuan of reverse repos
Last Updated: 2021-05-12 12:37 | Xinhua
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China's central bank Wednesday conducted 10 billion yuan (about 1.56 billion U.S. dollars) of reverse repos to maintain reasonably ample liquidity in the banking system.
 
The interest rate for the seven-day reverse repos was set at 2.2 percent, according to a statement on the website of 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.
 
China will adopt a prudent monetary policy that is flexible, precise, appropriate and moderate in 2021, according to this year's government work report. 

(Editor:Liao Yifan)

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China's central bank conducts 10 bln yuan of reverse repos
Source:Xinhua | 2021-05-12 12:37
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