China’s PBC adds $2m via reverse repos

The People’s Bank of China (PBC) conducted two billion yuan ($281.9 million) of seven-day reverse repos at an interest rate of 1.8 per cent on Monday to maintain reasonable and ample liquidity in the banking system, Xinhua reported.

Reverse repos involve the central bank buying securities from commercial banks through bidding, with an agreement to sell them back in the future.