July 22, 2020 / 8:17 AM / 13 days ago

South Korea central bank to end unlimited repo operations by end of July

SEOUL (Reuters) - South Korea’s central bank said on Thursday it will end its temporary offer of an unlimited amount of money through repo operations by the end of July, given improved funding conditions for financial institutions and low demand.

The Bank of Korea has held repo auctions every week since April after it pledged to provide unlimited liquidity via repurchase agreements to funnel cash to money markets hit by the coronavirus pandemic.

The bank said it would resume repo operations if volatility in financial markets returns.

Reporting by Joori Roh; Editing by Andrew Heavens

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