Money

PBOC leaves 1-yr bill yield unchanged at 2.0929%

(Xinhua)
Updated: 2010-07-06 16:40

The People's Bank of China (PBOC), China's central bank, auctioned 6 billion yuan ($885 million) of one-year bills at a yield of 2.0929 percent at its regular open market operations Tuesday.

Related readings:  Central bank sells 55b yuan of one-year bills  Central bank issues 20b yuan one-year bills  China lowers bill yields for 1st time in 15 months  PBOC one-year bill yield rises by 8.33 basis points

The yield on the one-year bill has been steady at 2.0929 percent for almost a month, since June 8, when the PBOC sold 15 billion yuan of bills.

During recent weeks, the central bank has reduced drainage operations in the money market through bill issuance and repurchase agreements, easing short-term liquidity squeezes.

The PBOC pumped 67 billion yuan into the money market last week by offsetting money supply with one-week bills and repurchase agreements.

Some 136 billion yuan of PBOC bills and repurchase agreements are due to mature this week.