China's central bank adds liquidity via reverse repos

BEIJING, 28th June, 2024 (WAM) -- China's central bank conducted 50 billion yuan (US$7.02 billion) of seven-day reverse repos at an interest rate of 1.8 percent Friday.

Xinhua news agency quoted a statement from the People's Bank of China as saying that the move aims to ensure stable liquidity at the end of the first half of this year.

A reverse repo is a process in which the central bank purchases securiti