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BEIJING (MNI) - The People's Bank of China skipped its open-market
operations on Monday, saying that an increase in fiscal spending toward the
year-end that can hedge the impact of maturing reverse repos.
This resulted in a net drain of CNY120 billion for the day, as a total of
CNY120 billion in reverse repos mature on Monday.
A total of CNY290 billion reverse repos are maturing this week.
The PBOC injected a total of CNY200 billion into the banking system via its
reverse repos last week.
The CFETS-ICAP money-market sentiment index ended at 43 on Friday, up from
41 at Thursday's close. The lower the reading the better the liquidity
conditions in the interbank market.
The benchmark seven-day repo average was last at 2.6967%, compared with
2.7649% on Friday.
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