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BEIJING (MNI) - The 7-day weighted average interbank repo average rate for
depository institutions (DR007) declined by 2 basis points to 2.67% from
yesterday, the People's Bank of China (PBOC) said in a statement on its website
The central bank has injected total CNY400 billion of liquidity via reverse
repo for three consecutive trading day this week, following its 36-day-long
suspension of open market operations.
The liquidity of the banking system is kept reasonable and ample, and the
market interest rate is moving steadily, the PBOC said.
The market is betting on the Fed to announce a quarter-point increase in
interest rates this week.
***MNI corrects a previous headline that said the reverse repo rate was cut
by the PBOC.
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