The People’s Bank of China (the central bank) injected liquidity on Tuesday into the financial system through seven-day reverse repo operations, worth 67 billion Chinese yuan (about $9.3 billion), at an interest rate of 1.8%.
The move aims to keep liquidity stable in the banking system, the People’s Bank of China said in a statement.
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.
Source: Qatar News Agency