"Chinese Central Bank" Boosts bank liquidity by 2 billion yuan

BEIJING, 28 APRIL / WAM / Today, the People’s Bank of China, the central bank, injected two billion yuan ($281.47 million) through a 7-day reverse repurchase mechanism at an interest rate of 1.8%.
The Chinese “Xinhua” news agency quoted the Central Bank as saying that this step aims to maintain cash liquidity in the banking system.
Reverse repurchases, known as “reverse repo,” are operations in which the central bank buys securities from commercial banks through bidding, with the agreement to sell them again in the future.

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