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MNI: PBOC Skips Its OMOs; Drains CNY40 Bln

     BEIJING (MNI) - PBOC skipped its open market operations on Wednesday,
stating that the liquidity condition is at a "relatively high" level, and the
increasing fiscal expenditure towards month-end can absorb the impact of
maturing reverse repo. 
     This resulted in a net drain of CNY40 billion, as a total of CNY40 billion
in reverse repo matures today. 
  - CFETS-ICAP's money-market sentiment index closed at 39 on Tuesday, down from
43 on Monday. 
  - Benchmark 7-day deposit repo average fell to 2.6569% today from 2.8344% on
Tuesday: Wind Information. 
--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com
--MNI Beijing Bureau; +86-10-8532-5998; email: beijing@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MGQ$$$,MN$MM$]

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