China’s Central Bank conducted ¥2 billion (about $281.9 million) of seven-day reverse repos at an interest rate of 1.8 per cent, on Monday.
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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 by which a central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.
