The People’s Bank of China (PBoC) said it will conduct overnight reverse repo operations from August 27 to Sept. 1 to meet short-term liquidity needs. The operations will be carried out at a fixed rate via quantity-based bidding, with a daily cap of CNY 600 billion. In addition, the central bank announced a CNY 500 billion one-year medium-term lending facility (MLF) on Tuesday, August 25, conducted through variable-rate tenders with a fixed quantity using a multiple-price auction.