-
China’s Central Bank to Add Temporary Repos Depending on Market Conditions
China’s central bank will conduct temporary bond repurchase or reverse repurchase operations in the afternoon, in addition to its traditional morning operations, tightening its control over short-term interest rates. The People’s Bank of China said it will conduct such operations “depending on the market situation” between 4 p.m. and 4:20 p.m. each working day, according to a statement on Monday. The move is aimed at “ensuring reasonable and sufficient liquidity in the banking system and to improve the precision and effectiveness of open market operations,” according to the statement. This follows a hint ... (full story)