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MNI: PBOC Net Drains CNY60 Bln Via OMOs

     BEIJING (MNI) - The PBOC skipped open market operations on Thursday,
resulting in net drain of CNY60 billion in liquidity as the same amount of
reverse repos matured today, according to Wind Information. The central bank
said liquidity in the banking system is at a relatively high level due to
quarter-end fiscal expenses, which can absorb the impact of reverse repo
maturities and government bond issuance.
  - This is the fifth consecutive trading day the PBOC has net drained
liquidity;
  - A total of CNY290 billion reverse repos will mature this week;
  - CFETS-ICAP's money-market sentiment index closed at 39 on Wednesday, down
from 44 on Tuesday;
  - Benchmark 7-day deposit repo average dropped to 2.6930% on Thursday from
2.6935 on Wednesday: Wind Information. 
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com
--MNI Beijing Bureau; +86-10-8532-5998; email: beijing@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MGQ$$$,MN$MM$]

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