China’s Central Bank Injects 2 Billion Yuan into Banking System

China's central bank conducted 2 billion yuan ($282 million) of seven-day reverse repos at an interest rate of 1.8% on Monday. The move aims to keep liquidity reasonable and ample in the banking system, the People's Bank of China said in a statement, reported by China's News Agency (Xinhua). 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

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