THE People’s Bank of China (PBOC), the country’s central bank, on Monday unveiled a new monetary policy tool to keep liquidity reasonable and ample in the country’s banking system, which an analyst said is part of a raft of incremental pro-growth policies to boost the economy.
According to a statement on the PBOC website, it started the so-called outright open market reverse repo facility on Monday, with operations scheduled once a month and a tenor of no more than one year.
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