China’s PBC offers 24.8b yuan off reverse repo

People’s Bank of China (PBC) announced on Thursday a seven-day 24.8 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: Y.Yasser