China's central bank to conduct 1.1-trln-yuan outright reverse repo operation

BEIJING, Jan. 7 (Xinhua) -- The People's Bank of China (PBOC), the country's central bank, announced Wednesday that it will conduct a 1.1-trillion-yuan (about 157 billion U.S. dollars) outright reverse repo operation on Thursday to maintain ample liquidity in the banking system.

The operation will be carried out with a fixed quantity through interest-rate bidding, with winning bids determined at multiple price l