China's central bank conducts $22.7 billion via reverse repos Monday

BEIJING, 23rd September, 2024 (WAM) -- China's central bank conducted 160.1 billion yuan (about US$22.7 billion) of seven-day reverse repos at an interest rate of 1.7 percent, as well as 74.5 billion yuan of 14-day reverse repos at an interest rate of 1.85 percent Monday.

Xinhua news agency quoted the People's Bank of China as saying that the move aims to keep liquidity reasonable and ample in the banking system