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Home Economy/Technology

China’s Central Bank keeps liquidity stable

China

The Matters Press by The Matters Press
November 26, 2023
Reading Time: 1 min read
0
Coronavirus hits hard as China records 811 deaths

Beijing, Nov. 26, 2023: China’s Central Bank on Friday conducted 664 billion Yuan (about 93.32 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 per.

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The move was aimed at keeping liquidity stable in the banking system at the end of the month, the People’s Bank of China said in a statement.

The reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them in the future.

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