China's central bank: cut the 7-day reverse repurchase operation rate to 1.70%

On July 22nd, in order to optimize the open market operation mechanism, from now on, the open market 7-day reverse repurchase operation will be adjusted to fixed interest rate and quantity invite tenders. At the same time, in order to further strengthen counter-cyclical adjustment and increase financial support for the real economy, from now on, the open market 7-day reverse repurchase operation interest rate will be adjusted from 1.80% to 1.70%.