China’s central bank conducts 10 bln yuan of reverse repos
BEIJING, March 8 — China’s central bank Monday conducted 10 billion yuan (about 1.54 billion U.S. dollars) of reverse repos to maintain reasonably ample liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2.2 percent, according to a statement on the website of the People’s Bank of China. A reverse repo is a process in which the central bank purchases securities from…