Home>>
China's central bank adds liquidity via reverse repos
(Xinhua) 14:32, October 20, 2023
BEIJING, Oct. 20 (Xinhua) -- China's central bank conducted 828 billion yuan (about 115.33 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Friday.
The move aims to offset the impacts of tax period and government bond issuance, and to keep liquidity in the banking system reasonable and ample, the People's Bank of China said in a statement.
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.
(Web editor: Tian Yi, Liang Jun)
Photos
Related Stories
- Interview: Economist says China has ample policy space to boost economy
- Commentary: China's economy disappoints naysayers again
- Commentary: China's pro-growth measures boost economic recovery, confidence
- Q3 data reveals China's economic recovery gathering steam
- Wall Street, global financial institutions upgrade China's 2023 economic forecasts
About People's Daily Online | Join Us | Contact Us
Copyright © 2023 People's Daily Online. All Rights Reserved.
Copyright © 2023 People's Daily Online. All Rights Reserved.