China Central Bank Conducts First-Ever Overnight Reverse Repo, Injects 300 Billion Yuan

According to China Securities Journal, the People's Bank of China (PBOC) conducted its first overnight reverse repo operation, injecting 300 billion yuan on June 29. The interest rate for the operation was not disclosed. Experts noted that the overnight reverse repo strengthens fine-tuned management of short-end liquidity. Wang Qing, chief macroeconomic analyst at East Asia Credit, said the tool primarily supplements the existing 7-day reverse repo and may become regular, with rates to be disclosed in the future.
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