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China central bank debuts overnight reverse repos, injects 300 billion yuan

BY Reuters | ECONOMIC | 09:31 PM EDT

SHANGHAI, June 29 (Reuters) - China's central bank on Monday debuted overnight reverse repo operations, offering 300 billion yuan ($44.13 billion) to financial institutions, according to an online statement.

The People's Bank of China (PBOC) did not announce the borrowing cost for the overnight reverse repos.

The PBOC also said it injected 157.5 billion yuan through seven-day reverse repos, with the rate unchanged at 1.4%, it said in the statement. ($1 = 6.7980 Chinese yuan) (Reporting by Shanghai Newsroom; Editing by Christian Schmollinger)

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