PBoC sets overnight reverse repo rate at 1.25% (vs prev. 1.25%)
ORIGINAL · NewsquawkPBoC sets overnight reverse repo rate at 1.25% (vs prev. 1.25%)Read originalHide original
Changes 7-day reverse repo operations to fixed-quantity, rate-tender auctions with multiple winning prices. Says other tools, including temporary repos and offshore central bank repo tools, will be priced off the overnight reverse repo rate. 7-day reverse repo operations will be conducted mainly around tax periods and month-end.
The PBoC kept its overnight reverse repo rate at 1.25% and announced changes to 7-day reverse repo auctions, pricing for other tools, and operation timing.
News detail
Changes 7-day reverse repo operations to fixed-quantity, rate-tender auctions with multiple winning prices. Says other tools, including temporary repos and offshore central bank repo tools, will be priced off the overnight reverse repo rate. 7-day reverse repo operations will be conducted mainly around tax periods and month-end.
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