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MNI: PBOC Drains Net CNY300 Bln Thurs; Rates Unchanged

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MNI (Beijing)
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The People's Bank of China (PBOC) conducted CNY363 billion via 7-day reverse repo on Thursday, with the rate unchanged at 1.80%. The operation has led to a net drain of CNY300 billion after offsetting the maturity of CNY663 billion reverse repos today, according to Wind Information.

  • The seven-day weighted average interbank repo rate for depository institutions (DR007) fell to 1.7641% at 09:27 am local time from the close of 1.7849% on Wednesday.
  • The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 51 on Wednesday, the same as the close on Tuesday. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.
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The People's Bank of China (PBOC) conducted CNY363 billion via 7-day reverse repo on Thursday, with the rate unchanged at 1.80%. The operation has led to a net drain of CNY300 billion after offsetting the maturity of CNY663 billion reverse repos today, according to Wind Information.

  • The seven-day weighted average interbank repo rate for depository institutions (DR007) fell to 1.7641% at 09:27 am local time from the close of 1.7849% on Wednesday.
  • The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 51 on Wednesday, the same as the close on Tuesday. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.