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MNI: PBOC Net Drains CNY80 Billion via OMOs

     BEIJING (MNI) - The People's Bank of China (PBOC) skipped open market
operations (OMOs) on Friday. This resulted in a net drain of CNY80 billion given
the same amount of reverse repos matured, according to Wind Information.
- The increased fiscal spending by month-end offsets the issuance of local
government bonds and the maturity of reverse repos, keeping the liquidity in the
banking system reasonable and ample, the PBOC said. 
- The 7-day weighted average interbank repo rate for depository institutions
(DR007) fell to 2.6520% at 0950 local time from the close of 2.6712% on
Thursday: Wind Information.
- The CFETS-NEX money-market sentiment index closed at 40 on Thursday vs 39 on
Wednesday.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@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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