PBOC unveils new monetary policy tool

By Global Times

Oct 30, 2024 12:14 am

THE People's Bank of China (PBOC), the country's central bank, on Monday unveiled a new monetary policy tool to keep liquidity reasonable and ample in the country's banking system, which an analyst said is part of a raft of incremental pro-growth policies to boost the economy.

According to a statement on the PBOC website, it started the so-called outright open market reverse repo facility on Monday, with operations scheduled once a month and a tenor of no more than one year.

UNVEILING Photo taken on October 19, 2020 shows an exterior view of the People’s Bank of China in Beijing. The PBOC on Monday unveiled a new monetary policy tool to ensure liquidity will be reasonable for China’s banking system. XINHUA PHOTO

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