Korea central bank to infuse cash via 'unlimited' repos for first time
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SEOUL (Reuters) - South Korea's central bank said on Thursday it will temporarily offer an unlimited amount of money for three months through repo operations, an unprecedented move to funnel cash to money markets hammered by the coronavirus pandemic.Repo auctions will be held every week, where a wider range of financial institutions will be able to borrow funds at the repo rate of no higher than 0.85%, the BOK said in a statement. The BOK also said it would accept a wider range of collateral..