Via Bloomberg:

  • The overnight repurchase rate fell for the 19th day in a row, losing six basis points to 1.15 percent as of 9:58 a.m. in Shanghai, according to a weighted average from the National Interbank Funding Center
  • 7-day repo rate dropped nine basis points, or 0.09 percentage point, to a four-year low of 1.99 percent
  • Meanwhile a Bloomberg survey conducted May 10-12 says there will be one more interest-rate cut before the year-end to lower the one-year lending rate to 5.1 percent, while the RRR will be reduced by 1 percentage point to 17.5 percent