Inter-bank Capital Market Sees Drop of Interest Rates in First QuarterThe latest statistic from National Inter-bank Lending Center shows that the volume of trade in China's inter-bank lending and bond trading (IBLBT) market increased while the lending interest rate continued to drop in the first quarter of this year.According to the statistics, the total trade volume during the 62 business days of the first quarter is 288.2 billion yuan, averaging a daily volume of 4.648 billion yuan, a rise by 26.11% as compared to the fourth quarter of 1999. Among them, the volume of inter-bank lending is 88.934 billion, a daily average of 1.434 billion, decreasing by 15.23% as compared to the fourth quarter of 1999. The volume of, bond repurchase and trade of current bonds, is respectively 3.072 and 0.142 billion yuan, a growth of 61.52% and 54.23% as against the fourth quarter of 1999 respectively. The type for inter-bank lending and bond repurchase in the first quarter is relatively concentrated. The former is mainly centered on the two types of 7 days and 20 days whereas the latter on three types of 7 days, 14 days, and 21 days. The interest rate for these two businesses displays a trend of slight decline. The weighted average interest rate and repurchase rate for IBLBT system are 2.53% and 2.51% respectively. |
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