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Business

China's central bank continues to skip reverse repos

BEIJING: China's central bank on Thursday skipped reverse repo for the 35th trading day, the longest stretch since early

Dec 13 2018

BEIJING: China's central bank on Thursday skipped reverse repo for the 35th trading day, the longest stretch since early 2016, citing reasonable and sufficient liquidity in the banking system.

No reverse repo will mature Thursday.

A reverse repo is a liquidity-injecting process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

Thursday's interbank market showed the overnight Shanghai Interbank Offered Rate (Shibor), which measures the cost at which banks lend to one another, climbed 9.5 basis point to 2.519 percent. The Shibor rate for one-month loans rose 2.6 basis point to 2.9 percent.

Copyright APP (Associated Press of Pakistan), 2018