China’s Rate Jumps Most in Two Months as Injections End

China’s money-market rate jumped the most in two months as the central bank refrained from injecting cash in open-market operations for the third auction in a row amid signs of a pickup in Asia’s biggest economy.

The People’s Bank of China has suspended selling reverse-repurchase contracts since Oct. 17, after offering seven- or 14-day agreements at twice-weekly auctions for more than three months. The PBOC drained a net 58 billion yuan ($9.5 billion) this week, the most since February, data compiled by Bloomberg show. That compared with a withdrawal of 44.5 billion yuan in the week ended Oct. 18.