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Money supply is tight at the end of.....>

CHINA PRESS
CHINA PRESS: Money supply is tight at the end of the month approaches and as the
PBOC's RRR cut has not taken effect yet, 21st Century Business Herald reported
Friday. 
- The CNY400 liquidity injection from the PBOC through the RRR cut will barely
caused any change in liquidity as it will balance out month-end tax payments. It
shows that the central bank maintains a prudent monetary policy; 
- Because liquidity is tight, overnight reverse repo was 2%-3% on April 19, but
some financial institutions raised the rate to as high as 10%; seven-day was
3%-4%, with some increasing the rate to 7%; 

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