MNI: PBOC Net Drains CNY371 Bln Tuesday via OMO
The People's Bank of China (PBOC) conducted CNY14 billion via 7-day reverse repos on Tuesday, with the rates unchanged at 1.80%. The operation has led to a net drain of CNY371 billion after offsetting the maturity of CNY385 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 1.7513% at 09:25 am local time from the close of 1.7436% on Monday.
- The CFETS-NEX money-market sentiment index closed at 48 on Monday, compared with 39 on Friday.