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MNI: PBOC Net Drains CNY30 Billion Via OMOs Tuesday

MNI (Sydney)

The People's Bank of China (PBOC) injected CNY50 billion via 7-day reverse repos with the rate unchanged on Tuesday. This resulted in a net drain of CNY30 billion given the maturity of CNY80 billion of reverse repos today, according to Wind Information.

  • The operation aims to maintain stable liquidity before the Chinese New Year, the PBOC said on its website.
  • The 7-day weighted average interbank repo rate for depository institutions (DR007) rose to 2.3542% at 09:33 am local time from 2.3461% at Monday's close.
  • The CFETS-NEX money-market sentiment index closed at 36 on Monday vs 32 on Sunday. A higher index indicates increased 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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