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الاقتصادية
China’s New Rate Anchor
The People’s Bank of China has adopted the rate on its overnight reverse repo operations as the main anchor of its monetary policy, replacing the seven-day rate, and has linked to it other instruments that were previously tied to the old rate. In the first regular operation under the revised framework, it conducted transactions worth 541 billion yuan at an interest rate of 1.25%, resulting in a net withdrawal of 515 billion yuan from the banking system.
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