In order to maintain reasonable and abundant liquidity in the banking system at the end of the quarter, the People's Bank of China launched a 7-day reverse repurchase operation of 182 billion yuan on the 29th using fixed interest rates and quantitative tenders. The operating interest rate was 1.50%. The People's Bank of China issued an announcement on the 27th stating that from September 27, the open market 7-day reverse repurchase operation interest rate will be adjusted from 1.70% to 1.50%, a decrease of 20 basis points. Driven by this, the standing loan facility interest rate was lowered on the evening of the 27th. Since September 27, overnight, 7-day, and 1-month SLF interest rates have all declined by 20 basis points, adjusted to 2.35%, 2.50%, and 2.85%. Currently, the 7-day reverse repurchase operation has basically assumed the function of the main policy interest rate. Since this year, interest rates for 7-day reverse repurchase operations have been reduced by a total of 30 basis points.

In order to maintain reasonable and abundant liquidity in the banking system at the end of the quarter, the People's Bank of China launched a 7-day reverse repurchase operation of 182 billion yuan on the 29th using fixed interest rates and quantitative tenders. The operating interest rate was 1.50%. The People's Bank of China issued an announcement on the 27th stating that from September 27, the open market 7-day reverse repurchase operation interest rate will be adjusted from 1.70% to 1.50%, a decrease of 20 basis points. Driven by this, the standing loan facility interest rate was lowered on the evening of the 27th. Since September 27, overnight, 7-day, and 1-month SLF interest rates have all declined by 20 basis points, adjusted to 2.35%, 2.50%, and 2.85%. Currently, the 7-day reverse repurchase operation has basically assumed the function of the main policy interest rate. Since this year, interest rates for 7-day reverse repurchase operations have been reduced by a total of 30 basis points.