The People's Bank of China, the country's central bank, announced that it will conduct an 800-billion-yuan (about 116 billion U.S. dollars) outright reverse repo operation on Tuesday to maintain ample liquidity in the banking system.
The operation will have a fixed quantity and be carried out through interest-rate bidding, with winning bids determined at multiple price levels. It will have a tenor of three months, or 89 days, according to the central bank.
Outright reverse repo operations, a tool the central bank introduced in October 2024 to manage liquidity in the national banking system, are conducted each month with a tenor of no more than one year.
These operations have enriched the country's monetary policy toolkit, complementing previous measures such as temporary repos, temporary reverse repos, and the purchase and sale of treasury bonds.
China's central bank conducts 800-bln-yuan outright reverse repo operation
Iran's Ministry of Tourism organized a memorial in the capital Tehran on Monday to grieve for the victims of a girls' elementary school in the southern Iranian city of Minab, where mourners laid flowers on classroom desks placed at the site.
Up to 165 people were killed in the deadly Israeli-U.S. airstrikes on Shajareh Tayyebeh School on February 28, according to Iranian authorities.
The students were sitting behind their desks when the missiles hit their school and they were killed in a few seconds, authorities said.
Mourners, including mothers, fathers and children, recreated a classroom from the school outdoors in a powerful symbolic remembrance of the innocent young ones who lost their lives.
Iranian President Masoud Pezeshkian has condemned the airstrikes in a statement after the attack, calling them "inhumane" and a barbaric act that "adds another dark page to the chronicle of countless crimes committed by aggressors" against Iran.
Mourners recreate classroom in Tehran in memory of girls' elementary school victims
