China's central bank conducts reverse repos Thursday

0 Comment(s)Print E-mail Xinhua, January 16, 2025
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BEIJING, Jan. 16 (Xinhua) -- China's central bank conducted 340.5 billion yuan (about 47.37 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.5 percent on Thursday.

The move aims to offset the impact of the tax payment period and keep liquidity in the banking system at an adequate level, 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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