The Peoples' bank of China, China's central bank, did not conduct any open market operation this week for the third straight week in a row.
As there were no reverse repos, repos and bills due this week, the central bank neither drained nor injected funds into the financial system through open market operations this week. Traders noted that the liquidity condition still remained relatively loose on the whole despite 20-odd IPOs this week.
On Wednesday, the benchmark 7-day Interbank Offered Rates (Shibor), a quasi of Libor, hovered at a record low of 2.3 percent since 2011.
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