SHANGHAI: Chinese lenders paid the highest interest rate in more than two years to borrow short-term government funds, adding to recent signs of a mismatch between the demand and supply of cash.
The People’s Bank of China (PBoC) auctioned 80 billion yuan (US$12bil) of three-month treasury deposits on behalf of the Ministry of Finance at 4.51%, according to a statement on its website.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!