Short-Term Interest Rates Spike as PBOC Suspends Open Market Operations
Liao Shumin
DATE:  Nov 26 2018
/ SOURCE:  yicai

(Yicai Global) Nov. 26 -- The Shanghai Interbank Offered Rate (Shibor) has shown a sudden jump in short-term interest rates. 

The overnight Shibor stood at 2.498 percent, up 14.20 basis points, while the seven-day Shibor rose 1.6 base points to 2.6440 percent, and the three-month one hit 3.0850 percent, up 1.20 basis points.

China's central bank the People's Bank of China again today suspended open market operations -- the buying and selling of government securities to control the money supply in the banking system -- in the 22th straight working day that it has skipped them, a record period since early 2016. 

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