China One-Year Swap Rate Drops Second Day as Inflation Slows; Yuan Steady
China’s interest-rate swaps declined for a second day after a government report showed the inflation rate slowed to a five-month low.
The one-year swap rate, the fixed cost to recieve the seven-day repurchase rate, declined 1.5 basis points to 3.155 percent. It reached 3.1475 percent yesterday, the lowest since March 18. The yuan gained 0.1 percent to 6.3385 per dollar.
Consumer prices rose 5.5 percent in October from a year earlier, the National Bureau of Statistics said today. That matched the median forecast in a Bloomberg News survey of 27 economists and compared with a 6.1 percent gain in September. Producer prices increased 5 percent last month.