May 06, 2024 02:04 GMT
MNI: PBOC Net Drains CNY8 Bln Via OMO Mon; Rates Unchanged
MNI (Singapore)
MNI (Beijing)
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The People's Bank of China (PBOC) conducted CNY2 billion via 7-day reverse repo Monday, with the rates unchanged at 1.80%. The operation has led to a net drain of CNY8 billion after offsetting the maturity of CNY10 billion today, according to Wind Information.
- The seven-day weighted average interbank repo rate for depository institutions (DR007) fell to 1.8659% at 10:04 am local time from the close of 2.1098% before May Day holiday.
- The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 44 before May Day holiday, compared with the close of 41 on the previous day. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.
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