MNI: PBOC Net Drains CNY356 Bln Wednesday via OMO
The People's Bank of China (PBOC) conducted CNY26 billion via 7-day reverse repos on Wednesday, with the rates unchanged at 1.80%. The operation has led to a net drain of CNY356 billion after offsetting the maturity of CNY382 billion reverse repo today, according to Wind Information.
- The operation aims to keep banking system liquidity reasonable and ample, the PBOC said on its website.
- The 7-day weighted average interbank repo rate for depository institutions (DR007) rose to 1.8000% at 09:25 am local time from the close of 1.7411% on Tuesday.
- The CFETS-NEX money-market sentiment index closed at 48 on Tuesday, the same as the close on Monday.