China money rates down sharply for 4th week as easing gains traction

April 10, 2015 5:23 AM

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SHANGHAI, April 10 (Reuters) - Chinese money market rates fell sharply for the fourth week on Friday as the central bank's efforts to ease a protracted short term liquidity crunch showed signs of gaining traction.

At midday on Friday, the volume weighted average yield on the benchmark seven-day bond repurchase agreement (repo) was trading at 2.88 percent. The last time the seven-day repo closed below 3 percent was in October 2014. For the week, the seven-day repo was down 52 basis points (bps), following a 53...

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