MNI: PBOC Net Drains CNY220 Bln Thursday via OMO
The People's Bank of China (PBOC) conducted CNY110 billion via 7-day reverse repos on Thursday, with the rates unchanged at 1.80%. The operation has led to a net drain of CNY220 billion after offsetting the maturity of CNY330 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 09:24 am local time from the close of 1.8884% on Wednesday.
- The CFETS-NEX money-market sentiment index closed at 56 on Wednesday, compared with the close of 39 on Tuesday.