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.
