SHANGHAI — China's central bank has hundreds of billions of yuan worth of bonds at its disposal to borrow, and will sell them depending on market conditions, the bank told Reuters on Friday, part of a plan markets see as an effort to cool a powerful bond rally.
'With the size of the treasury bonds at the central bank's disposal reaching hundreds of billions of yuan, a single day of concentrated selling will have a significant impact on the market,' Ming said.China's central bank said earlier this week it would borrow treasury bonds from some primary dealers soon, outlining the specifics of a plan analysts say is aimed at putting a floor under plunging domestic interest rates.
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