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MNI: PBOC Drains Net CNY290 Billion In OMOs Tuesday

     BEIJING (MNI) - The People's Bank of China (PBOC) skipped its open-market
operations Tuesday, saying the liquidity level in the banking system is at a
relatively high level.
     This resulted in a net drain of CNY290 billion for the day, as a total of
CNY290 billion in reverse repos matured on Monday and Tuesday. 
     This is the seventh consecutive trading day that the PBOC has skipped its
open market operations.
     The CFETS-ICAP money-market sentiment index ended at 56 on Friday, slightly
down from 54 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 2.6548%,compared with
3.0912% on Friday.
--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com
--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com
[TOPICS: MMQPB$,M$A$$$,M$Q$$$,MN$MM$]

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