2023-09-06 06:15:35
The People’s Bank (central) of China increased the amount of cash it pumped into the banking system for the third day in a row.
The bank stated that it pumped today 26 billion yuan ($3.61 billion) through reverse repurchase operations for seven days, at an interest rate of 1.8 percent., following it pumped yesterday 14 billion yuan ($1.95 billion) and the day before yesterday 12 billion yuan (regarding $1.67 billion). ) with an interest of 1.8%,
The state news agency Xinhua quoted the central bank as saying that this step aims to maintain acceptable and abundant liquidity in the banking system.
Reverse repo, known as a “reverse repo”, is operations in which the central bank buys securities from commercial banks through bidding, with an agreement to sell them back to them in the future.
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