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Central Bank: Gradually Increase the Frequency of Overnight Reverse Repo Operations to Enhance Policy Rate Transmission

On August 12, the Central Bank released the 2026 second quarter report on China's monetary policy implementation. The report stated that moving forward, the People's Bank of China will continue to steadily and orderly promote the reform and improvement of the monetary policy operation framework. It will flexibly and accurately carry out various operations, maintain the total liquidity at an appropriate level, and better guide the stable operation of short-term interest rates in the money market. In response to the needs of primary dealers, the frequency of overnight reverse repo operations will be gradually increased to further enhance the transmission of policy rates to market rates.

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