China c.bank injects 158.4b yuan in reverse repo

The People’s Bank of China (PBC) announced on Tuesday that it is injecting 158.4 billion yuan (about $22.24 billion)  into the banking system through a seven-day reverse repo operation at an interest rate of 1.50 per cent.

This move aims to maintain stable liquidity conditions in the banking system as the first half of 2024 comes to a close.

A reverse repo is a monetary policy tool used by central banks to inject liquidity into the financial system by purchasing securities from commercial banks with a promise to sell them back at a later date.

Attribution: PBC announcement