China boosts liquidity via ¥5b reverse repo

The People’s Bank of China (PBC) announced on Tuesday that it injected 5 billion yuan into the banking system through seven-day reverse repurchase agreements, known as reverse repos, at an interest rate of 1.8 per cent in order to maintain stability in the banking system’s liquidity levels.

Additionally, the central bank set the yuan’s exchange rate against the US dollar at 7.0985.