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MNI: PBOC Net Drains CNY10 Billion via OMOs

     BEIJING (MNI) - The People's Bank of China (PBOC) skipped open market
operations for the fifth trading day on Wednesday, resulting in a net drain of
CNY10 billion with the same amount of reverse repos maturing, according to Wind
Information.
- The PBOC will cut the reserve requirement ratio for county-level rural
commercial banks to 8%. The reduction will be implemented in three phases, and
the first phrase today is expected to release about CNY100 billion in long-term
funds, the PBOC said.
- The 7-day weighted average interbank repo rate for depository institutions
(DR007) rose to 2.6500% at 9:35 am local time from the close of 2.6288% on
Tuesday: Wind Information.
- The CFETS-NEX money-market sentiment index closed at 41 on Tuesday vs 44 on
Monday.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MGQ$$$,MN$MM$]

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