Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Key Points – September Report
Introducing the updated MNI China Money Market Index (MMI), formerly the MNI China
Liquidity Index, which has been adapted to reflect the PBOC's monetary policy.
Weak credit demand that has trapped interbank liquidity and fuelled the recent bond rally will lead the People’s Bank of China to take a more flexible approach to further injections via its open market operations, while it simultaneously attempts to steepen the yield curve via its bond trades, results from MNI’s China Money Market Index revealed.
The outlook subindex covering the PBOC’s OMO over the coming month showed 67.4% of participants expected a net drain as the PBOC aims to discourage idle funds within the market. The current liquidity conditions subindex also reflected the PBOC’s caution at 86.0 in September – a 2024 peak – up from the previous month’s 32.6, with 79.1% of respondents reporting tighter conditions.
The MNI China Money Market Index (MMI) was formerly the MNI China Liquidity Index, and has been adapted to reflect the PBOC's monetary policy. The survey was conducted prior to the PBOC’s latest monetary easing, which saw the bank lower several of its key benchmarks including a 20-basis-point cut to its 7-day repo rate.
- The MNI China Money Market Index suggested better liquidity in October
- The MNI China Money Market Current Conditions Index stood at 86.0 in September
- The MNI China PBOC Policy Bias Index picked up through September
Click below for the full press release: MNI_China_Liquidity_Index_Sept_Presser_2024.pdf
For full database history and full report on the MNI China Liquidity Index™, please contact:sales@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.