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MNI: PBOC Net Drains CNY70 Billion and Skips OMOs

     BEIJING (MNI) - The People's Bank of China (PBOC) skipped open market
operations for the fourth day on Thursday, resulting in a net drain of CNY70
billion given the same amount of reverse repos matured today, according to Wind
Information.
     - The total liquidity in the banking system is at a relatively high level,
which can absorb the impact of matured repos and government bond issuance, the
PBOC said on its website.
     - The 7-day weighted average interbank repo rate for depository
institutions (DR007) declined to 2.2000% at 9:16 am local time from the close of
2.0254% on Wednesday: Wind Information.
     - The CFETS-NEX money-market sentiment index closed at 35 on Wednesday vs
60 on Tuesday. A higher index indicates increased market expectations for
tighter liquidity.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: archie.zhang@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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