China’s PBC issues 299.3b yuan off reverse repo

By Nada Ali On Nov 26, 2024

People’s Bank of China (PBC) announced on Tuesday a seven-day 299.3 billion-yuan reverse repo at an interest rate of 1.50 per cent.

The Chinese central bank aims to maintain stable liquidity within the banking system as 2024 is coming to a close.

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