China’s central bank, the People’s Bank of China (PBOC), announced it would conduct overnight reverse repo operations from July 29 to 31 and on August 3 to better meet short-term liquidity needs in the banking system.
The PBOC will inject 600 billion yuan ($88.58 billion) each day from Wednesday through Friday next week, followed by an additional 300 billion yuan on the following Monday through the liquidity tool.
This move is seen as a way for the PBOC to deepen its control over liquidity conditions and align its policy framework more closely with global peers.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
