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MNI China Daily Summary: Tuesday, August 9

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LIQUIDITY: The People's Bank of China (PBOC) injected CNY2 billion via 7-day reverse repos with the rate unchanged at 2.10%. The operation led to a net drain of CNY40 billion after offsetting the maturity of CNY2 billion in repos and CNY40 billion in Treasury deposits at commercial banks today, according to Wind Information. The operation aims to keep liquidity reasonable and ample, the PBOC said on its website.

RATES: The seven-day weighted average interbank repo rate for depository institutions (DR007) increased to 1.3278% from the close of 1.2850% on Monday, Wind Information showed. The overnight repo average rose to 1.0221% from the previous 1.0137%.

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LIQUIDITY: The People's Bank of China (PBOC) injected CNY2 billion via 7-day reverse repos with the rate unchanged at 2.10%. The operation led to a net drain of CNY40 billion after offsetting the maturity of CNY2 billion in repos and CNY40 billion in Treasury deposits at commercial banks today, according to Wind Information. The operation aims to keep liquidity reasonable and ample, the PBOC said on its website.

RATES: The seven-day weighted average interbank repo rate for depository institutions (DR007) increased to 1.3278% from the close of 1.2850% on Monday, Wind Information showed. The overnight repo average rose to 1.0221% from the previous 1.0137%.

Keep reading...Show less