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Free AccessMNI: PBOC Drains Net CNY80 Billion In OMOs Friday
BEIJING (MNI) - The People's Bank of China skipped its open-market
operations on Friday, saying that the liquidity conditions in the banking system
was at a "relatively high" level, given an increase in fiscal spending toward
the year-end that can hedge the impact of maturing reverse repos and push up the
banking system liquidity level.
This resulted in a net drain of CNY80 billion for the day, as a total of
CNY80 billion in reverse repos mature on Friday.
The PBOC has injected a total of CNY200 billion into the banking system via
its reverse repos this week.
The CFETS-ICAP money-market sentiment index ended at 41 on Thursday, down
from 44 at Wednesday's close. The lower the reading the better the liquidity
conditions in the interbank market.
The benchmark seven-day repo average was last at 2.6688%, compared with
2.8214% on Thursday.
--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com
--MNI Beijing Bureau; +86 (10) 8532-5998; email: rich.dirks@marketnews.com
[TOPICS: MMQPB$,M$A$$$,M$Q$$$,MN$MM$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.