September 04, 2024 01:38 GMT
MNI: PBOC Net Drains CNY276.6 Bln via OMO Wednesday
MNI (Singapore)
MNI (Beijing)
Central Bank NewsPolicy NewsPBOCAPACChinaEM Policy NewsEM Central Bank NewsPeoples Bank of ChinaBriefStoryRegion
True
The People's Bank of China (PBOC) conducted CNY0.7 billion via 7-day reverse repos, with the rate unchanged at 1.70%. The operation led to a net drain of CNY276.6 billion after offsetting maturities of CNY277.3 billion, according to Wind Information.
- The seven-day weighted average interbank repo rate for depository institutions (DR007) fell to 1.6575% at 09:38 am local time from the close of 1.7021% on Tuesday.
- The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 48 on Tuesday, compared with the close of 44 on Monday. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.
99 words