The Central People's Government of the People's Republic of China

11/21/2023 | Press release | Distributed by Public on 11/20/2023 23:43

China's central bank adds liquidity via reverse repos

BEIJING, Nov. 21 -- China's central bank conducted 319 billion yuan (about 44.7 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Tuesday.

The move aims 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.