PBoC lowers 14-day repo rate to 3.4% from 3.5%

On Tuesday the People’s Bank of China, the country’s central bank, sold 20bn yuan in 14-day repurchase agreements at 3.4%.

That is below the 3.5% at which it sold similar contracts on 9 October.

One-year interest rate swaps on the benchmark seven-day repo rate slipped by 10 basis points to 3.15%.