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The People's Bank of China (PBOC) injected CNY200 billion via 7-day reverse repos with the rate unchanged at 2.2% on Wednesday. The operations lead to a net injection of CNY30 billion after offsetting the maturity of CNY100 billion reverse repos and CNY70 billion of Treasury's cash deposits at commercial banks today, according to Wind Information.

  • The operation aims to offset the impact of tax season and the issuance of government bonds, so to keep month-end liquidity stable, the PBOC said on its website.
  • The 7-day weighted average interbank repo rate for depository institutions (DR007) increased to 2.2616% at 09:28 am local time from the close of 2.2454% on Tuesday.
  • The CFETS-NEX money-market sentiment index closed at 41 on Tuesday vs 53 on Monday.