July 25, 2024 02:02 GMT
MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut
MNI (Singapore)
MNI (Beijing)
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The People's Bank of China (PBOC) conducted CNY235.1 billion via 7-day reverse repo on Thursday, with rate unchanged at 1.70%. The central bank also conducted a second 1-year MLF within the month of CNY200 billion today, with rate cut to 2.3% from the previous 2.5%. The operation has led to a net injection of CNY186.1 billion after offsetting the CNY49 billion maturity today, according to Wind Information.
- The seven-day weighted average interbank repo rate for depository institutions (DR007) rose to 1.8623% at 09:58 am local time from the close of 1.7591% on Wednesday.
- The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 51 on Wednesday, compared with the close of 45 on Tuesday. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.
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