PBOC sells RMB 5 bln 1-year bills on Tue

The People's Bank of China (PBOC) announced it has sold RMB 5 billion one-year bills with a coupon rate of 2.2495% in the regular open-market operations on Tuesday morning.
Analysts speculated that the central bank might further cut interest rates, as the yield of one-year bills, regarded as an interest rate indicator, plunged 96.03 basis points from 3.2098% in the previous issue.

The central bank did not announce any repurchase agreement.

A total of RMB 26.5 billion of bills and repos issued by the central bank will mature this week, compared with RMB 104.5 billion last week.

Last week, PBOC drained RMB 84.5 billion from the domestic mark