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MNI: PBOC Net Drains CNY534 Billion via OMOs Tuesday

MNI (Singapore)
MNI (Beijing)

The People's Bank of China (PBOC) on Tuesday conducted CNY50 billion via 7-day reverse repos with the rates unchanged at 2.00%. The operation has led to a net drain of CNY534 billion after offsetting the maturity of CNY5584 billion reverse repos 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) fell to 2.0000% at 9:32 am local time from the close of 2.6782% on Friday.
  • The CFETS-NEX money-market sentiment index closed at 47 on Friday vs 48 on Thursday.
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