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Free AccessMNI: PBOC Skips Its OMOs Friday; Drains CNY40 Bln
BEIJING (MNI) - The People's Bank of China skipped its open market
operations on Friday, saying high fiscal expenditures at the end of Novembers
added to liquidity and so could offset the impact of maturing reverse repos.
Liquidity is at a relatively high level, the PBOC said.
This resulted in a net drain of CNY40 billion for the day, as a total of
CNY40 billion in reverse repos mature on Friday, after four consecutive trading
days when the PBOC left liquidity conditions unchanged at its OMO.
The PBOC drained a total of CNY40 billion via its open market operations
this week.
The CFETS-ICAP money-market sentiment index ended at 41 on Thursday, barely
changed from 40 at Wednesday's close. The lower the reading the better the
liquidity conditions in the interbank market.
The benchmark seven-day repo average was last at 2.6759%, compared with
2.9471% on Thursday.
--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com
--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com
[TOPICS: MMQPB$,M$A$$$,M$Q$$$,MN$MM$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.