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PBOC Launches Overnight Reverse Repo, Targets 1.35% Rate

6/26/2026

Summary

Story summary

The People’s Bank of China will run overnight reverse-repo operations on June 29-30 to inject cash.
The tool is expected to set the overnight rate near 1.35 percent, within a 1.3-1.4 percent range.
The PBOC says the operation will improve short-term funding-cost control and ease quarter-end liquidity pressure.
30-year treasury futures rose 50 ticks to a high, prompting analysts to warn the rate could stay temporary if it matches the 1.4 percent seven-day rate.

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Story summary

The People’s Bank of China will run overnight reverse-repo operations on June 29-30 to inject cash.
The tool is expected to set the overnight rate near 1.35 percent, within a 1.3-1.4 percent range.
The PBOC says the operation will improve short-term funding-cost control and ease quarter-end liquidity pressure.
30-year treasury futures rose 50 ticks to a high, prompting analysts to warn the rate could stay temporary if it matches the 1.4 percent seven-day rate.