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MNI: PBOC Net Drains CNY8 Billion Via OMOs Thursday

MNI (Sydney)

The People's Bank of China (PBOC) injected CNY2 billion via 7-day reverse repos with the rate unchanged on Thursday. This resulted in a net drain of CNY8 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 2.1258% at 09:28 am local time from 1.9200% at Wednesday's close.
  • The CFETS-NEX money-market sentiment index closed at 36 on Wednesday vs 42 on Tuesday. 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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