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E-mail Xinhua, July 22, 2024
China's central bank on Monday lowered the interest rate on seven-day reverse repos from 1.8% to 1.7%.
The move aims to strengthen counter-cyclical adjustments to better support the real economy, the People's Bank of China said in an online statement.
A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.
