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MNI: PBOC Drains Net CNY41 Bln Via OMO Mon; Rates Unchanged

MNI (Singapore)
MNI (Beijing)

The People's Bank of China (PBOC) conducted CNY184 billion via 7-day reverse repo and CNY60 billion via 14-day on Monday, with the rates unchanged at 1.80% and 1.95%, respectively. The reverse repo operation has led to a net drain of CNY41 billion reverse repos after offsetting CNY285 billion maturity today, according to Wind Information.

  • The seven-day weighted average interbank repo rate for depository institutions (DR007) rose to 1.8167% at 10:55 am local time from the close of 1.7870% on Friday.
  • The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 45 on Friday, compared with the close of 47 on Thursday. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.
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