PBOC hikes 28-day reverse repo rates by 5 bps

The People’s Bank of China (PBOC) hikes the interest rates on 28-day reverse repurchase (repos) agreements by 5 basis points (bps) on Monday.

The rate hike matched previous increases in other tenors in the last two months.

Key Details:

The interest rate for 28-day reverse repos was raised to 2.85 percent from 2.80 percent.

The rate for seven-day stood at 2.55 percent.