China money rates fall ahead of reserve requirement cut taking effect

China's primary money rates fell this week
after China's central bank said it would reduce the level of cash banks must
hold in reserve, and as demand for money eased at the beginning of a new
quarter.
The volume-weighted average rate of the benchmark seven-day repo
traded in the interbank market, considered the best indicator of
general liquidity in China, was 2.5948 percent on Friday, down 9.13 basis
points from its closing level of 2.6861 percent on Sept.

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