People's Bank of China to Conduct Overnight Reverse Repo Operations to Maintain Liquidity

The People's Bank of China (PBOC) announced it would conduct overnight reverse repo operations on August 14 and from August 17-19, with a daily volume not exceeding 600 billion RMB, to meet the banking system's short-term liquidity needs. This move aligns with the PBOC's evolving framework, which increasingly centers on the overnight money market rate as a key policy anchor.