Briefly

Temporary repos, rev repos to improve OMOs

The People's Bank of China, the country's central bank, said it will carry out temporary repos or reverse repos based on market conditions from Monday. The move aims to keep liquidity reasonable and ample in the banking system and improve the accuracy and effectiveness of open market operations, the PBOC said. The overnight temporary repos and reverse repos will be conducted through bidding, with their interest rates set based on the seven-day reverse repos.

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