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MNI: PBOC Cuts 14-Day Reverse Repo Rate,  Net-Injects CNY50 Bn

MNI (Singapore)

The People's Bank of China (PBOC) pumped in CNY150 billion via 14-day reverse repos with the rate lowering to 2.25% from the previous 2.35% on Monday. The operation led to a net injection of CNY50 billion after offsetting CNY100 billion maturing reverse repos, according to Wind Information. The 14-day rate cut followed a 10-bp cut to the rate of 7-day reverse repos last Monday, as well as that of 1-year MLF.

  • The operation aims to keep liquidity stable before the Spring Festival holiday, the PBOC said on its website.
  • The 7-day weighted average interbank repo rate for depository institutions (DR007) rose to 2.2200% at 09:27 am local time from the close of 2.1057% on Friday.
  • The CFETS-NEX money-market sentiment index closed at 41 on Friday vs 58 on Thursday.
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