国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Money

Rising yield leads rate hike expectations in China

(Xinhua)
Updated: 2011-06-21 15:14
Large Medium Small

BEIJING -- The People's Bank of China (PBOC), the central bank, on Tuesday auctioned 1 billion yuan ($154 million) of one-year bills at a yield of 3.4019 percent, heightening speculation of an approaching interest rate hike.

The yield on the one-year bills rose 9.61 basis points from last week despite the low issue volume.

Related readings:
Rising yield leads rate hike expectations in China PBOC issues more commemorative coins
Rising yield leads rate hike expectations in China Expert predicts rate rise in July
Rising yield leads rate hike expectations in China Increase in interest rates likely
Rising yield leads rate hike expectations in China China to continue prudent monetary policy

The PBOC did not carry out repurchase agreement operations on Tuesday.

Bill issue and repurchase agreement operation are two major tools for the central bank to adjust the banking industry's liquidity through open market operations.

As a key signal for changes in the benchmark one-year interest rates, the yield of one-year bills heightened the market's speculation of an imminent rate hike, said Sun Wencun, a macroeconomic analyst with the CITIC Securities.

"An interest rate increase is very likely, possibly in July," Sun said.

Market analysts have been closely watching PBOC's open market operations this week as the yield of its one-year bills sold on Tuesday far exceeded the benchmark interest rate of one-year deposits, which stood at 3.25 percent.

In the secondary market, where banks can sell the bills to other investors, the yield of the one-year bills is now around 3.6 percent, thus making banks reluctant to buy those bills from the central bank.

The repurchase rate of overnight bills in China's interbank market was 7.6 percent and 8.3 percent for seven-day bills, indicating tight liquidity in the banking system.

Li Xunlei, chief economist of the Guotai Junan Securities, said the increase of central bank bills or an interest rate hike would be a lagging response to the market.

"Small- and medium-sized enterprises have to endure lending rates much higher than the official benchmark interest rate when they borrow from private sector," Li said.

"Actually, it's the market's interest rate in real terms that is forcing the central bank to raise the interest rate soon," he added.

分享按鈕
南昌县| 莲花县| 临猗县| 屏东县| 花莲县| 六盘水市| 江油市| 九龙坡区| 鄂州市| 嘉兴市| 伽师县| 凭祥市| 吴江市| 台中县| 龙川县| 瓦房店市| 沂源县| 航空| 临湘市| 深泽县| 大足县| 珲春市| 南宫市| 新田县| 娱乐| 当阳市| 台中县| 漳浦县| 金平| 汶上县| 潞城市| 樟树市| 织金县| 景谷| 郎溪县| 镇远县| 富锦市| 衡东县| 西安市| 平谷区| 翁牛特旗|