Economics
China Repo Rate in Biggest Weekly Gain Since March; Yuan Steady
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China’s money-market rate had its biggest weekly gain since March on speculation cash supply will wane as the central bank drains capital. The yuan was steady.
The seven-day repurchase rate, which measures interbank funding availability, climbed 73 basis points this week, or 0.73 percentage point, to 3.70 percent as of 4:32 p.m. in Shanghai, a weighted average compiled by the National Interbank Funding Center shows. It rose 49 basis points today.