Bond Repurchases Halted
By Joyce Pan |
January 19, 2011, Wednesday
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Print Edition
Print Edition
THE People's Bank of China halted bond repurchases yesterday, one day after saying it would suspend central bill sales this week, indicating it may rely more on raising reserve requirement ratio to control fund inflows.
"The rise in reserve ratio is more effective and efficient," said Chen Ying, an analyst at Sealand Securities Co. "As the central bank bill yields are closely related to the benchmark interest rate, the suspension of central bill issuance could ease speculation on an interest rate rise."
"The rise in reserve ratio is more effective and efficient," said Chen Ying, an analyst at Sealand Securities Co. "As the central bank bill yields are closely related to the benchmark interest rate, the suspension of central bill issuance could ease speculation on an interest rate rise."
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