China’s c. bank offers 353.2b yuan off reverse repo

The People’s Bank of China (PBC) announced on Wednesday a 7-day 353.2-billion-yuan reverse repo at an interest rate of 1.50 per cent.

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: Amwal Al Ghad English

Subediting: M. S. Salama