(Yicai Global) Nov. 1 -- China's central bank, the People's Bank of China (PBOC), maintained balanced funding in its monetary system on Wednesday through the injection of funds equal to those maturing. The move follows nine consecutive days of net injections.
PBOC conducted a seven-day reverse repo of CNY140 billion (USD billion), a 14-day reverse repo of CNY40 billion, and a 63-day reverse repo of CNY60 billion, offset by CNY240 billion of previous reverse repos maturing today.
The seven-day reverse repo bid rate was 2.45 percent, while the 14-day rate was offered at 2.60 percent and the 63-day rate was set at 2.90 percent, all unchanged from the previous open market operations.
Despite the open market operations, the overnight SHIBOR was up 0.30 basis points at 2.7390 percent on Wednesday.
The one-week term rate was flat at 2.8940 percent. Three-month loans continued to increase 1.26 basis points to 4.4080 percent, the highest seen since Sept. 11.