PBOC halts repo sales to boost mar­ket liq­uid­ity

China Daily (Canada) - - BUSINESS -

The cen­tral bank re­frained from sell­ing re­pur­chase agree­ments for the first time in four months as banks’ hoard­ing of cash to meet reg­u­la­tory re­quire­ments drove the bench­mark money-mar­ket rate to a sev­en­week high. The People’s Bank of China’s de­ci­sion to halt the use of re­pos re­sulted in a net 12 bil­lion yuan ($1.9 bil­lion) be­ing added to the fi­nan­cial sys­tem this week via its open-mar­ket op­er­a­tions, ac­cord­ing to Bloomberg data.

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