News Snapshot:
WhatsApp The People’s Bank of China (PBOC)’s latest round of open market operations (OMO) have kept levels of liquidity in the Chinese banking system unchanged. On 4 August PBOC announced that it would undertake 2 billion yuan in reverse repo auctions via rate bidding, with a bid rate of 2.10%, for the purposes of maintaining rationally ample liquidity in the banking system. The move coincides with the maturation of 2 billion yuan in reverse repos on the same date, leaving market liquidity unchanged. Short-term interest rates have declined over the past two days, with the overnight Shanghai Interbank Offered Rate...