PBOC Undertakes 2 Billion Yuan in 7-Day Reverse Repos on 4 August for Zero Liquidity Change China Banking News


Source: chinabankingnews.com chinabankingnews.com

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WhatsApp The People’s Bank of China (PBOC)’s latest round of open market operations (OMO) have kept levels of liquidity in the Chinese banking system unchanged. On 4 August PBOC announced that it would undertake 2 billion yuan in reverse repo auctions via rate bidding, with a bid rate of 2.10%, for the purposes of maintaining rationally ample liquidity in the banking system. The move coincides with the maturation of 2 billion yuan in reverse repos on the same date, leaving market liquidity unchanged. Short-term interest rates have declined over the past two days, with the overnight Shanghai Interbank Offered Rate...