Tue, 21 Feb 2012 07:44:53 GMT
China's money market rate drops on reserve requirement cut
China's key money market rate declined on investor speculation the liquidity will advance after government's decision to lower reserve requirement ratios. Seven day repurchase costs, an indicator of capital availability, gave up 49 points to 4.88%. The repurchase rates are likely to diminish further, said Dariusz Kowalczyk, Credit Agricole CIB's strategist in Hong Kong.