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MNI: PBOC Net Drains CNY20 Billion via OMOs

MNI (Sydney)

The People's Bank of China (PBOC) injected CNY80 billion via 7-day reverse repos with the rate unchanged at 2.2% on Monday. This resulted in a net drain of CNY20 billion given the maturity of CNY100 billion of reverse repos, according to Wind Information.

  • The operation aims to keep liquidity reasonable and ample, the PBOC said on its website.
  • The 7-day weighted average interbank repo rate for depository institutions (DR007) increased to 2.1675% at 09:28 am local time from the close of 2.0912% on Friday: Wind Information.
  • The CFETS-NEX money-market sentiment index closed at 40 on Monday vs 43 on Friday. A lower index indicates decreased market expectations for tighter liquidity.
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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