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MNI: PBOC Cuts 7-Day Repo Rate Unexpectedly, First in 4 Years

     BEIJING (MNI) - The People's Bank of China (PBOC)   lowered the 7-day
reverse repo rate to 2.5% from 2.55% on Monday, according to a statement on its
website. This was the first cut to the 7-day interbank rate since the 10 bps cut
on Oct 27, 2015, according to data from Wind Information . 
     - The PBOC injected CNY180 billion of liquidity for the day , according to
its statement.
     - The 7-day weighted average interbank repo rate for depository
institutions (DR007) fell to 2.7083% at 10:25 a.m. local time from the close of
2.7811% on Friday: Wind Information. 
     - The CFETS-NEX money-market sentiment index closed at 59 on Friday vs 57
on Thursday. A higher index indicates greater market expectations for tighter
liquidity.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MGQ$$$,MN$MM$]

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