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China's c.bank offers 137.8b yuan off reverse repos
Nada Ali Published in Amwal Al Ghad on 16 - 08 - 2024

People's Bank of China (PBC) announced on Friday seven-day 137.8 billion-yuan reverse repos at an interest rate of 1.7 per cent.
The Chinese central bank aims to maintain stable liquidity within the banking system as the first half of 2024 draws to a close.
Notably, the PBC offered 577.5 billion yuan on Thursday through seven-day reverse repurchase agreements, maintaining the same interest rate.
A reverse repo is a tool used by central banks to manage liquidity. The PBC purchases securities from commercial banks through a bidding process, with an agreement to resell them back in the future.
Attribution: PBC's website
Subediting: Y.Yasser

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