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MNI: PBOC Drains Net 299 Bln Via OMO Mon; Rates Unchanged

MNI (Singapore)
(MNI)Beijing

The People's Bank of China (PBOC) conducted CNY20 billion via 7-day reverse repo on Monday, with the rate unchanged at 1.80%. The operation has led to a net drain of CNY299 billion after offsetting the maturity of CNY319 billion reverse repos today, according to Wind Information.

  • The seven-day weighted average interbank repo rate for depository institutions (DR007) rose to 1.8000% at 09:29am local time from the close of 1.7577% before 7-day long holiday.
  • The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 28 on last trading day before golden week holiday, compared with the close of 50 on the previous day. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.
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