Asian shares excluding Japan declined on Tuesday as the People’s Bank of China (PBOC) drained liquidity from the market. With the US market closed on the President’s Day holiday, the focus yesterday was on Europe with ECB’s Nowotny called for consideration of further rate cut while BOE’s Miles reaffirmed investors that there’s no imminence for a rate hike.
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PBOC Conducted Repo First Time in 8 Month to Drain Excess Liquidity
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