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MNI: PBOC Net Drains CNY20 Bln via OMOs Monday

MNI (Singapore)

The People's Bank of China (PBOC) injected CNY10 billion via 7-day reverse repos with the rate unchanged at 2.2% on Monday. The operation resulted in a net drain of CNY20 billion given the maturity of CNY30 billion reverse 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) increased to 2.1727% at 09:24 am local time from the close of 1.8895% on Friday.
  • The CFETS-NEX money-market sentiment index closed at 41 on Friday vs 46 on Thursday.
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