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MNI: PBOC Net Drained CNY5 Billion Via OMOs Tuesday

MNI (Sydney)

The People's Bank of China (PBOC) injected CNY5 billion via 7-day reverse repos with the rate unchanged on Tuesday. This resulted in a net drain of CNY5 billion given the maturity of CNY10 billion of reverse repos today, according to Wind Information.

  • The operations aim to maintain the liquidity in the banking system at a reasonable and ample level, the PBOC said on its website.
  • The 7-day weighted average interbank repo rate for depository institutions (DR007) increased to 2.0130% at 09:30 am local time from 1.9394% at Monday's close.
  • The CFETS-NEX money-market sentiment index closed at 41 on Monday vs 35 on Friday. 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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