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MNI: PBOC Skipped Its Open Market Operations; drains CNY10 Bln

     BEIJING (MNI) - The People's Bank of China skipped its open market
operations today, resulting a net drain of CNY10 billion as a total of CNY10
billion reverse repos matured today. The PBOC cut reserve requirement ratio
(RRR) to release CNY700 billion on Friday in a sign that policy is becoming
increasingly tilted towards supporting the economy rather than encouraging
deleveraging. 
  - A total of CNY670 billion in reverse repos will mature this week;
  - CFETS-ICAP's money-market sentiment index closed at 33 on Friday, down from
36 on Thursday;
  - Benchmark 7-day deposit repo average fell to 2.6512% on Monday from 2.7260%
on Friday: Wind Information. 
--MNI Beijing Bureau; +86 (10) 8532-5998; email: sherry.qin@marketnews.com
--MNI Singapore Bureau; +65 8233 2326; email: Asia-Editor@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MGQ$$$,MN$MM$]

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