You are here

PBOC loosens monetary policy further as it scraps repo sales

Seven-day repurchase rate falls 10 basis points to 3.22% in Shanghai; further cuts in interest rates seen

BT_20141128_REFRAIN28A_1388200.jpg
PBOC, which last suspended sales of repos in July as IPOs boosted cash demand, is expected to start injecting funds into the financial system next month using reverse-repurchase agreements.

Beijing

CHINA'S central bank refrained from selling repurchase agreements for the first time since July, loosening monetary policy further as a report showed industrial companies' profits fell by the most in two years.

The People's Bank of China (PBOC) didn't conduct any open-