China Money Rate Climbs for a Third Day on Holiday Cash Demand
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China’s money-market rate rose for a third day on speculation cash supply will decline as the Lunar New Year holiday approaches.
The People’s Bank of China conducted 43 billion yuan ($6.9 billion) of seven-day reverse-repurchase operations today, according to a trader required to bid at the auctions. The yield was kept unchanged at 3.35 percent, the trader said.