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26 Jun 2013
Flash: Chinese interbank rates keep on rising - Danske Bank
FXstreet.com (Barcelona) - Danske Bank analysts note that in China, the interbank interest rates eased for the fourth day in a row but they remain at elevated levels.
They write, “The O/N SHIBOR fixing declined by 18bp to 5.55% after reaching a peak of 13.44% last Thursday. In its statement yesterday People’s Bank of China signalled a more proactive stance and finally started giving some guidance on interbank rates saying it ‘would guide interest lower to a reasonable level’.”
They write, “The O/N SHIBOR fixing declined by 18bp to 5.55% after reaching a peak of 13.44% last Thursday. In its statement yesterday People’s Bank of China signalled a more proactive stance and finally started giving some guidance on interbank rates saying it ‘would guide interest lower to a reasonable level’.”