China's central bank conducted a reverse repo operation at a lower rate on Monday in order to improve liquidity in the financial system, the latest move in a series of measures undertaken to support a slowing economy.
The People's Bank of China injected CNY 10 billion via 14-day reverse repos at an interest rate of 2.15 percent compared to the previous 2.25 percent. The bank also conducted CNY 2 billion 7-day reverse repo operations at an unchanged rate of 2.00 percent.
The PBoC said the move aims to maintain stable liquidity in the banking system.
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