Free Trial

MNI: PBOC Net Drains CNY11 Bln Via OMOs Wednesday

MNI (Singapore)
MNI (Beijing)

The People's Bank of China (PBOC) conducted CNY2 billion via 7-day reverse repos on Wednesday, with the rates unchanged at 2.00%. The operation has led to a net drain of CNY11 billion after offsetting the maturity of CNY13 billion reverse repo today, according to Wind Information.

  • The operation aims 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 1.9748% at 09:40 am local time from the close of 1.7499% on Tuesday.
  • The CFETS-NEX money-market sentiment index closed at 47 on Tuesday, compared with the close of 44 on Monday.
True

To read the full story

Why Subscribe to

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.