Free Trial

MNI: PBOC Net Drains CNY231.6 Bln via OMO Thursday

MNI (Singapore)
MNI (Beijing)
True

The People's Bank of China (PBOC) conducted CNY292 billion 14-day reverse repos, with the rate at 1.85%. The operation led to a net drain of CNY231.6 billion after offsetting maturities of CNY523.6 billion today, according to Wind Information.

  • The seven-day weighted average interbank repo rate for depository institutions (DR007) fell to 1.8317% at 09:51 am local time from the close of 1.8748% on Wednesday.
  • The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 54 on Wednesday, compared with the close of 45 on Tuesday. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.
97 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The People's Bank of China (PBOC) conducted CNY292 billion 14-day reverse repos, with the rate at 1.85%. The operation led to a net drain of CNY231.6 billion after offsetting maturities of CNY523.6 billion today, according to Wind Information.

  • The seven-day weighted average interbank repo rate for depository institutions (DR007) fell to 1.8317% at 09:51 am local time from the close of 1.8748% on Wednesday.
  • The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 54 on Wednesday, compared with the close of 45 on Tuesday. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.