|China central bank adds liquidity via reverse repos|
|Author: CSEBA / Xinhua|
|23rd April 2023|
|BEIJING - China's central bank injected funds into the financial system through open market operations Sunday.|
The People's Bank of China said it has conducted 89 billion yuan (about 12.95 billion U.S. dollars) of seven-day reverse repos at an interest rate of 2 percent.
The move is aimed at keeping stable liquidity in the banking system, according to the central bank.
A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.