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MNI: PBOC Net Drains CNY276.6 Bln via OMO Wednesday

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MNI (Beijing)
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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.
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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.