The Chinese central bank injected CNY 11 billion (approximately $ 17.1 billion) today through a reverse repos deal with the aim of stabilizing liquidity in the slotxo banking system. Before the Chinese Festival holiday
The PBOC set a seven-day reverse repos rate at 2.2%, down from 2.35% on Sunday.
The reverse repo is a process by which a central bank purchases securities from commercial banks in an agreement to sell them back in the future.
Xinhua news agency reported that The People's Bank of China pledges to implement a more prudent, targeted and flexible monetary policy to adapt to the needs of high-quality development. As well as paying more attention to the efficiency of financial services to support the real economy.