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Free AccessMNI: PBOC Net Drains CNY288.1 Bln via OMO Friday
MNI BRIEF: Japan Oct Real Wages Unchanged Y/Y
MNI: PBOC Skips OMO Friday, Drains CNY10 Bln
BEIJING (MNI) - The People's Bank of China skipped its open-market
operations Friday, saying liquidity in the banking system in general is at a
proper level.
This resulted in a net drain of CNY10 billion for the day, as a total of
CNY10 billion in reverse repos mature on Friday.
The PBOC has drained a net CNY510 billion via OMOs this week as it skipped
open market operations today and each of the first three trading days of the
week.
The net drain is the highest in 10 months, compared with a net drain of
CNY40 billion last week.
On Wednesday, the PBOC injected CNY188 billion in one-year Medium-term
Lending Facility (MLFs) loans at an unchanged interest rate of 3.2%. The
operation did not add or drain liquidity, as a total of CNY188 billion in MLF
loans matured Wednesday.
An additional CNY187 billion in MLF loans will mature on Dec. 16.
The CFETS-ICAP money-market sentiment index ended at 44 on Thursday, up
from 42 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 2.6646%, compared with
2.8051% on Thursday.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@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.