The operation will have a tenor of six months (182 days) and will be conducted using a fixed-quantity, interest-rate-bidding and multiple-price-bidding method, according to a statement from the central bank.
Outright reverse repo operations, a tool the central bank introduced in October last year to manage liquidity, are carried out once every month with a tenor of no more than a year.
These operations have enriched the country's monetary policy toolkit, complementing previous measures such as temporary repos, temporary reverse repos and the buying and selling of treasury bonds, a Chinese news agency reported.
ALCHEMPro News Desk (DS)
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