The author is Nomura economist Zhiwei Zhang The People's Bank of China (PBoC) resumed its reverse repo operations this week: injecting RMB13 billion and RMB16 billion, respectively, this Tuesday and Thursday, although the interest rates that it offered rose. The 7-day repo rate remains elevated, hovering slightly above 5.0%, compared to 3.5% before liquidity tightening […]

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