PBOC raises 14-day reverse repo rate by 5 bps to 2.65%

Having raised the MLF, SLF and reverse repurchase agreements last week in a surprise move after Fed, the Chinese central bank (PBOC) raised interest rates on RR, used for open market operations by 5 basis points for the 14-day tenor on Monday.

The PBOC published a statement announcing that it raised the 14-day rate to 2.65% from 2.60%.