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MNI: PBOC Net Drains CNY380 Billion via OMOs

     BEIJING (MNI) - The People's Bank of China (PBOC) injected CNY120 billion
via 7-day reverse repos with the rate unchanged at 2.2% on Monday. This resulted
in a net drain of CNY380 billion given the maturity of CNY500 billion of reverse
repos, according to Wind Information.
- The operation aims to keep the liquidity reasonable and ample, the PBOC said
in a statement on its website. The central bank also noted that it will renew
the medium-term lending facility (MLF) due this month around June 15, and the
amount of rollover will be determined according to market demand.
- The 7-day weighted average interbank repo rate for depository institutions
(DR007) rose to 2.0401% at 09:50 am local time from the close of 1.9351% on
Friday: Wind Information. 
     - The CFETS-NEX money-market sentiment index closed at 36 on Friday vs 33
on Thursday. A higher index indicates increased market expectations for tighter
liquidity.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MGQ$$$,MN$MM$]

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