China money rates fall on very loose liquidity; NCD rates hit record lows

China’s primary money rates
fell this week as interbank money conditions remained extremely
loose, with the central bank encouraging lending to bolster the
economy amid slowing growth and a worsening trade environment.
With already-ample liquidity conditions, the People’s Bank
of China skipped its regular open market operations for a second
consecutive week. Last week, it drained 210 billion yuan as that
amount of reverse repurchase agreements matured.
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