China Money Rate Climbs Most in 4 Weeks as Month-End Approaches
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China’s money-market rate climbed the most in four weeks on speculation cash supply will tighten as banks hoard funds to meet month-end requirements.
The People’s Bank of China today gauged demand for seven-and 14-day reverse-repurchase contracts before an auction tomorrow, according to a trader required to bid at the sales. Preparatory work for starting sovereign debt futures is “basically complete,” the China Securities Journal reported today, citing Jiang Yang, vice chairman of China Securities Regulatory Commission.