China’s money rates fall on easing demand; PBOC skips OMOs for 5th week

China’s primary money rates fell
this week as demand for cash for regular tax payments eased
after the month end, with traders awaiting November credit data
for potential clues on further policy easing.
The country’s central bank made no net injections or drains
into money markets for a record fifth consecutive week.
While skipping daily reverse repurchase operations, the
People’s Bank of China effectively rolled over 187.5 billion
yuan ($27.26 billion