China Money Rate Set for Biggest Weekly Decline in Three Months

China’s benchmark money-market rate is set for the biggest weekly drop since December as demand for cash eased after banks met quarter-end capital requirements.

The seven-day repurchase rate, a gauge of funding availability in the banking system, tumbled 124 basis points, or 1.24 percentage points, to 2.98 percent as of 11:06 a.m. in Shanghai, according to a weighted average from the National Interbank Funding Center. That’s the biggest decline since the five days ended Dec. 27. The rate fell 111 basis points today, the most since March 6.

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