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MNI: PBOC Drains Net CNY869 Bln Via OMO Tues; Rates Unchanged

MNI (Singapore)
MNI (Beijing)

The People's Bank of China (PBOC) conducted CNY137 billion via 7-day reverse repo on Tuesday, with the rates unchanged at 1.80%. The reverse repo operation has led to a net drain of CNY869 billion reverse repos after offsetting CNY1.006 trillion maturity today, according to Wind Information.

  • The seven-day weighted average interbank repo rate for depository institutions (DR007) fell to 1.8043% at 10:11 am local time from the close of 2.4264% before New Year holiday.
  • The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 35 on last trading day, compared with the close of 46 the previous day. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.
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