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
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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-market operations on Thursday's auction window, after cutting interest rates last week for the first time since 2012.
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