China Rate Swap Falls to Four-Week Low as PBOC Seen Adding Cash

China’s one-year interest-rate swaps slid to a four-week low on speculation the central bank’s money-market operations will add cash to the financial system.

The People’s Bank of China injected a net 55 billion yuan ($8.9 billion) last week as more repurchase agreements matured than were sold, data compiled by Bloomberg show. That was the first time funds were added since January. The monetary authority gauged demand for 14- and 28-day repos, seven-day and 14-day reverse repos, and 91-day bills today for operations this week as usual, according to a trader at a primary dealer required to bid at the auctions.