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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

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.


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-...