FX.co ★ PBoC Maintains 7-Day Reverse Repo Rate, Adds Liquidity

The People's Bank of China (PBoC) injected CNY 69.5 billion into the banking system on Tuesday via seven-day reverse repos, while leaving the interest rate unchanged at 1.4%, according to an official statement. The central bank also conducted overnight reverse repo operations for a second consecutive day, providing CNY 600 billion to financial institutions, though it did not disclose the associated borrowing cost. The PBoC had introduced this overnight liquidity tool on Monday, setting its interest rate at 1.25%, according to Reuters.