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Unexpected Issuance Pick-Up

FRANCE T-BILL AUCTION RESULTS

France Sells E5.909bn of BTFs Vs E4.4-6.0bn Target

US EURODLR OPTIONS

Early Put Load-Up

SOY TECHS

(X1) Pulls Away From Recent Highs

The People's Bank of China will continue to drive actual lending interest rates lower, increase yuan's exchange rate flexibility and optimize supervision of deposit rates, according to a statement posted late Thursday following the Q1 meeting of the Monetary Policy Committee.

The currency should be basically stable at a reasonable and balanced level, a prudent monetary policy should be "flexible and precise" and liquidity will be kept "reasonable and ample," according to the statement.

Authorities will focus on longer-phase policy design and support high-quality economic development, while also increase international policy coordination and watch for external changes, the committee said.

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