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MNI: PBOC Net Drains CNY251.67 Bln via OMO Wednesday

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MNI (Beijing)
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The People's Bank of China (PBOC) skipped open market operations on Wednesday, as the banking system's total liquidity was at a reasonable and ample level, the central bank said in a statement. This led to a net drain of CNY251.67 billion after offsetting the maturity today, according to Wind Information.

  • The seven-day weighted average interbank repo rate for depository institutions (DR007) rose to 1.7033% at 09:40 am local time from the close of 1.6932% on Tuesday.
  • The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 46 on Tuesday, compared with the close of 50 on Monday. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.
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The People's Bank of China (PBOC) skipped open market operations on Wednesday, as the banking system's total liquidity was at a reasonable and ample level, the central bank said in a statement. This led to a net drain of CNY251.67 billion after offsetting the maturity today, according to Wind Information.

  • The seven-day weighted average interbank repo rate for depository institutions (DR007) rose to 1.7033% at 09:40 am local time from the close of 1.6932% on Tuesday.
  • The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 46 on Tuesday, compared with the close of 50 on Monday. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.