Chinese Central Bank Lifts 28-day Reverse Repo Rate 5 Bps to 2.85%

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The People’s Bank of China lifted the rate on 28-day reverse bond repurchase agreements by 5 basis points on Monday 28 May.

According to its official website PBOC raised the rate for 28-day reverse repos to 2.85% from 2.80%, while the seven-day rate remains at 2.55%.

The increase is in line with hikes for other tenors over the past two months.

PBOC injected 30 billion yuan into the market  via seven-day and 28-day tenors on the same date.

 

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