The People's Bank of China (PBOC) announced that, in order to optimize the operation mechanism of the open market, the 7-day reverse repurchase operation in the open market will be adjusted to a fixed interest rate and quantity tender starting from today (22nd).
Meanwhile, in order to further strengthen the counter-cyclical adjustment and beef up the financial support to the real economy, the interest rate of 7-day reverse repurchase operation in the open market is adjusted from the previous 1.8% to 1.7% effective today.
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