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MNI: PBOC Net Drains CNY130 Billion Via OMOs Wed

MNI (Sydney)

The People's Bank of China (PBOC) injected CNY10 billion via 7-day reverse repos with the rate unchanged on Wednesday. This resulted in a net drain of CNY130 billion given the maturity of CNY140 billion of reverse repos today, according to Wind Information.

  • The operations aim to maintain the liquidity in the banking system reasonable and ample, the PBOC said on its website.
  • The 7-day weighted average interbank repo rate for depository institutions (DR007) increased to 2.2000% at 09:31 am local time from 1.6461% for Tuesday'ss close.
  • The CFETS-NEX money-market sentiment index stayed flat from the previous day at 38 on Tuesday when the market closed. A lower index indicates decreased market expectations for tighter liquidity.
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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