China's PBOC to conduct overnight reverse repos to manage short-term liquidity

BEIJING, Aug. 12 (Xinhua) -- The People's Bank of China (PBOC) announced Wednesday that it will conduct overnight reverse repo operations on Aug. 14 and from Aug. 17 to Aug. 19, to better meet the short-term liquidity needs of the banking system. The operations will be conducted at a fixed interest rate through quantity-based bidding, with the daily amount capped at 600 billion yuan (about 88.4 billion U.S. doll