Awaiting the Swap Connect

¹ Repo rate is the rate at which the central bank of a country (i.e. the PBoC in the case of China) lends money to commercial banks in the event of any shortfall of funds.
² An interest rate swap (IRS) is a derivative contract, agreed between two counterparties, that involves an exchange of payments benchmarked against an interest rate index between the two parties.

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