China's central bank to conduct overnight reverse repos every working day from November 2 at 1.25%
TLT•China's central bank will conduct overnight reverse repo operations every working day from November 2, at a current rate of 1.25%.
1. Repo operations
China's central bank said it will conduct overnight reverse repo operations every working day from November 2, using fixed-rate and quantity bidding, with the current rate at 1.25%. Seven-day reverse repos will use fixed-quantity, rate bidding with multiple-price awards, mainly around tax-payment periods and month-end.
2. Other tools
The bank said temporary repos and offshore central bank repo tools would be priced off the overnight reverse repo rate.
