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MNI: PBOC Net Injects CNY278 Billion via OMOs Tuesday

MNI (Singapore)

The People's Bank of China (PBOC) on Wednesday injected CNY280 billion via 7-day reverse repos with the rates unchanged at 2.00%. The operation has led to a net injection of CNY278 billion after offsetting the maturity of CNY2 billion reverse repos today, according to Wind Information.

  • The operation aims to offset the impact of tax season and government bond issuance, and keep month-end liquidity stable, the PBOC said on its website.
  • The 7-day weighted average interbank repo rate for depository institutions (DR007) rose to 2.0268% at 9:33 am local time from the close of 1.9195% on Tuesday.
  • The CFETS-NEX money-market sentiment index closed at 49 on Tuesday vs 66 on Monday
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