September 19, 2019 / 7:30 PM / 2 months ago

N.Y. Fed to conduct repo operation Friday

NEW YORK (Reuters) - The New York Federal Reserve said on Thursday it will conduct a repurchase agreement operation early Friday “in order to help maintain the federal funds rate within the target range of” 1.75% to 2.00%.

The Friday repo operation, the fourth one this week as the U.S. central bank aims to inject temporary cash to avert turbulence in U.S. money markets, will be conducted at 8:15 a.m. ET to 8:30 a.m. ET.

Reporting by Richard Leong

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