China’s central bank continued to inject funds into the financial system through open market operations Tuesday.
The People’s Bank of China said it has conducted 37 billion yuan (about 5.22 billion U.S.
dollars) of seven-day reverse repos at an interest rate of 2 percent.
The move is aimed at keeping liquidity stable in the banking system at the end of the month, 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.—APP
