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MNI BRIEF: China 1-Month Treasury Deposit Rate Up 5 BPS

BEIJING (MNI)

China's one-month treasury deposit interest rate increased to 3% from 2.95% previously, traders told MNI Friday. The rate on the deposits, totalling CNY70 billion, resulted from the first treasury auction by the People's Bank of China this year.

The reason for the rise is unclear but liquidity is a bit tight Friday, said a trader with a state-owned securities company. The seven-day deposit reverse repo average across China's interbank market was last at 2.1915%, higher than 2.0331% on Thursday.

MNI Singapore Bureau | +65 9 632 1991 | sumathi.vaidyanathan.ext@marketnews.com
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MNI Singapore Bureau | +65 9 632 1991 | sumathi.vaidyanathan.ext@marketnews.com
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