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China Daily | Updated: 2013-04-11 07:19
Money rate extends decline on speculation inflows rising
China's money-market rate declined for a third day on speculation that rising capital inflows will help boost the supply of cash in the financial system. The seven-day repurchase rate, which measures interbank funding availability, dropped 6 basis points to 3.21 percent at the 4:30 pm close in Shanghai, according to a weighted average rate compiled by the National Interbank Funding Center. "Foreign capital inflows are probably rising, which is helping bring down money market rates," said Wang Huane, a senior bond trader at Qilu Bank Co in Jinan, Shandong province.
Government keeps fuel prices unchanged
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