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MNI: PBOC Net Drains CNY120 Bln Friday via OMO

MNI (Singapore)
MNI (Beijing)

The People's Bank of China (PBOC) conducted CNY101 billion via 7-day reverse repos on Friday, with the rates unchanged at 1.80%. The operation has led to a net drain of CNY120 billion after offsetting the maturity of CNY221 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) fell to 1.8000% at 09:53 am local time from the close of 2.2498% on Thursday.
  • The CFETS-NEX money-market sentiment index closed at 60 on Thursday, compared with 39 on Wednesday.

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