China's central bank adds liquidity via reverse repos

Beijing [China], February 4: China's central bank conducted 43 billion yuan (about 6 billion U.S. dollars) of 14-day reverse repos at an interest rate of 1.95 percent Sunday.
The move aims to keep liquidity stable ahead of the Spring Festival, which falls on Feb. 10 this year, the People's Bank of China said in a statement.
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.
Source: Xinhua