following a nine-month suspension
 

Central Bank's 1-Yr Bill Yield Flat
If the yield exceeds 2.25 percent,christian louboutin, the PBOC will be forced to raise benchmark interest rates, which would go against its moderately loose monetary policy.
By staff reporter Zhang
Man
(Caijing.com.cn)
The People's Bank of China auctioned 45 billion yuan worth of one-year bills on
Aug. 18 at a yield of 1.7605 percent,polo ralph lauren, unchanged from the last issue,franklin and marshall, the central
bank said on its Web site.
The PBOC also entered into 50
billion yuan worth of 28-day repurchase agreements at a rate of 1.18 percent,cheap polo ralph lauren, it
said.
A total of 132 billion yuan in
short-term central bank bills will mature this week.
The PBOC resumed the issue of
one-year bills on July 8, following a nine-month suspension,louboutin pas cher, in a move to drain
excess liquidity after commercial banks extended a record 7.37 trillion yuan of
new loans in the first half.
In July,louboutin, new lending fell to 355.9
billion yuan from 1.53 trillion yuan in June. Rises in open market interest
rates have also slowed.
A total of 183 billion yuan in
one-year bills were sold in seven weekly auctions since the suspension
ended.
Yields climbed consecutively from
1.5022 percent to 1.7605 percent over the previous six issues but are likely to
remain stable in the coming weeks, analysts said.
The yield will rise to 2-2.25
percent in the near term, while the long-term trend will depend on economic
conditions, they said.
If the yield exceeds 2.25 percent,polo ralph lauren shirts,
the PBOC will be forced to raise benchmark interest rates,franklin et marshall, which would go
against its moderately loose monetary policy.
"The central bank will reasonably
deploy open market tools to keep banking liquidity and money market rates at
appropriate levels," the PBOC said in its second-quarter monetary policy report
issued on Aug. 5.
Full article in Chinese:
http://www.caijing.com.cn/2009-08-18/110226341.html
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