Repo rate falls in China due to actions of central bank
2022.12.29 00:40
Repo rate falls in China due to actions of central bank
Budrigannews.com – On Thursday, losses on China’s overnight repo rate fell to a new low as the central bank continued to provide cash support to financial institutions to help them weather the year-end demand.
In comparison to the previous close, the volume-weighted average price of the overnight repo in the interbank market decreased by approximately 5 basis points to 0.4237 percent.
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To counteract higher cash demand toward the end of the year, the People’s Bank of China (PBOC) injected a net 201 billion yuan ($28.82 billion) via open market operations earlier in the session. This brought the total number of net cash offerings for this week to 794 billion yuan. CN/MMT]
