SHANGHAI (Reuters) – China’s overnight repo rate prolonged losses to a recent low on Thursday, because the central bank continued to supply money support to assist financial institutions tide over the year-end demand.
The quantity-weighted average price of the overnight repo within the interbank market fell to 0.4237%, down about 5 basis points from the previous close.
The People’s Bank of China (PBOC) injected a net 201 billion yuan ($28.82 billion) via open market operations earlier within the session, bringing the online money offerings to 794 billion yuan to this point this week to counteract higher money demand towards the year-end. [CN/MMT]
($1 = 6.9735 Chinese yuan)
(Reporting by Winni Zhou and Brenda Goh; Editing by Muralikumar Anantharaman)
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