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bankingFebruary 7, 2023

China Central Bank injects about $22.14bn into market

Beijing: Beijing: China’s central bank injected yesterday 150bn yuan (about $22.14bn) into the market via reverse repo operations to maintain liquidity in the banking system.

According to the People’s Bank of China, the seven-day reverse repos at an interest rate of 2 percent.

The move is aimed at keeping liquidity reasonable and ample in the banking system, 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.