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Markets

China cuts 7-day repo rate to 3.45%, market expects more

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Investing.com -

The People's Bank of China cut the seven-day reverse-repo rate by 10 basis points at Tuesday's open-market operations in a bid to guide market rates lower.

The central bank injected CNY20 billion via seven-day reverse repos and lowered the rate to 3.45% from 3.55%. Tuesday's move is the fourth cut since Chinese New Year.

But, traders still expect another cut of the required-reserve ratio to offset the liquidity squeeze this month that is a result of corporate-tax payments and initial public offerings.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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