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(M2) Corrective Cycle


Marginally Lower In Asia


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China COVID Matters Remain Front & Centre


USD Has Lost Some Shine


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The People's Bank of China (PBOC) injected CNY700 billion via a 1-year medium-term lending facility and CNY100 billion via 7-day reverse repos with the rate lowering to 2.85% and 2.10%, respectively, on Monday. The operation has led to a net injected of CNY290 billion after offsetting the maturity of CNY500 billion MLF and CNY10 billion repos today, according to Wind Information.

  • The operation aims to keep liquidity reasonable and ample, the PBOC said on its website.
  • The 7-day weighted average interbank repo rate for depository institutions (DR007) rose to 2.2589% at 09:44 am local time from the close of 2.2068% on Friday.
  • The CFETS-NEX money-market sentiment index closed at 43 on Friday, compared with the close of 42 on Thursday.

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