PBOC Conducts RMB 50 Billion 7-Day Reverse Repo At 1.4%

The People's Bank of China conducted RMB 5 billion of 7-day reverse repo operations at an unchanged rate of 1.4% on Monday, according to ETNet. On the same day, the central bank also carried out RMB 359 billion of overnight reverse repo operations. A total of RMB 386 billion of 7-day reverse repos and RMB 447 billion of overnight reverse repos matured, resulting in a net drain of RMB 469 billion from the open market.