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MNI: PBOC Net Drains CNY238.9 Bln via OMO Friday; Rate Cut

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MNI (Beijing)
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The People's Bank of China (PBOC) conducted CNY333 billion 14-day reverse repos, with the rate lowered to 1.65% from the previous 1.85%. The operation led to a net drain of CNY238.9 billion after offsetting maturities of CNY571.6 billion today, according to Wind Information.

  • The seven-day weighted average interbank repo rate for depository institutions (DR007) fell to 1.6312% at 09:41 am local time from the close of 1.8464% on Thursday.
  • The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 48 on Thursday, compared with the close of 54 on Wednesday. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.
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The People's Bank of China (PBOC) conducted CNY333 billion 14-day reverse repos, with the rate lowered to 1.65% from the previous 1.85%. The operation led to a net drain of CNY238.9 billion after offsetting maturities of CNY571.6 billion today, according to Wind Information.

  • The seven-day weighted average interbank repo rate for depository institutions (DR007) fell to 1.6312% at 09:41 am local time from the close of 1.8464% on Thursday.
  • The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 48 on Thursday, compared with the close of 54 on Wednesday. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.