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Small unwind on the cash open


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(Z1) Still Climbing


(Z1) Needle Still Points North

     BEIJING (MNI) - The People's Bank of China injected CNY40 billion in
seven-day reverse repos and CNY40 billion in 28-day reverse repos via
open-market operations Monday, Wind Information, a Shanghai-based financial data
provider, said.
     This resulted in a net injection of CNY20 billion for the day, as a total
of CNY60 billion in reverse repos mature on Monday. 
     Today is the first day that the PBOC made a net injection of liquidity via
its OMOs since Nov. 24.
     A total of CNY480 billion in reverse repos will mature this week. In
addition, CNY187 billion in Medium-term Lending Facility (MLF) loans will mature
on Saturday.
     The CFETS-ICAP money-market sentiment index ended at 47 on Friday, up from
44 at Thursday's close. The lower the reading the better the liquidity
conditions in the interbank market.
     The PBOC is expected to make an official announcement on its official
website about this morning's OMO around 9:45a.m., Beijing time.
     The benchmark seven-day repo average was last at 2.8150%, compared with
2.7180% on Monday.
--MNI Beijing Bureau; +86 10 85325998; email:
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