Briefly

Central bank conducts reverse repos

China's central bank conducted 17.1 billion yuan ($2.4 billion) of seven-day reverse repos at an interest rate of 1.5 percent on Friday. The move aims to keep liquidity in the banking system at a reasonable level, the People's Bank of China said. 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.

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