Free Trial

MNI: PBOC Injects Net CNY199 Bln Tues; Rates Cut

MNI (Singapore)
MNI (Beijing)

The People's Bank of China (PBOC) conducted CNY204 billion via 7-day reverse repos and CNY401 billion via 1-year MLF on Tuesday, with the rates lowering to 1.80% and 2.50%, respectively. The operation has led to a net injection of CNY199 billion after offsetting the maturity of CNY6 billion reverse repo and CNY400 billion MLF today, according to Wind Information.

  • The operation aims to hedge the impact during tax payment period and to keep banking system liquidity reasonable and ample, the PBOC said on its website.
  • The 7-day weighted average interbank repo rate for depository institutions (DR007) rose to 1.9000% at 09:30 am local time from the close of 1.8231% on Monday.
  • The CFETS-NEX money-market sentiment index closed at 45 on Monday, compared with the close of 49 on Friday.
True

To read the full story

Close

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.