The People's Bank of China announced it will conduct an outright reverse repurchase operation totaling 1.2 trillion yuan on October 8, 2026. The operation will use a fixed quantity, rate tender, and multiple-price winning method with a three-month term of 89 days, maturing on January 5, 2027. This liquidity injection utilizes the central bank's newer outright reverse repo tool designed to manage medium-term market liquidity. The scheduled operation aims to maintain reasonable and ample liquidity in the banking system ahead of the fourth quarter.