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China's central bank conducts reverse repos Thursday

0 Comment(s)Print E-mail Xinhua, January 23, 2025
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BEIJING, Jan. 23 (Xinhua) -- China's central bank conducted 480 billion yuan (about 66.94 billion U.S. dollars) of 14-day reverse repos at an interest rate of 1.65 percent on Thursday.

The move aims to keep liquidity in the banking system at an adequate level before the upcoming Spring Festival holiday, 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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