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MNI: PBOC Skips OMO, Net Drains CNY120 Billion

     BEIJING (MNI) - The People's Bank of China (PBOC) skipped open market
operations (OMOs) for a third trading day on Tuesday, leading to a liquidity
drain of CNY120 billion due to the maturity of reverse repos, according to Wind
Information. 
- The central bank said on its website the increase in fiscal expenditure near
month-end can offset the impact of reverse repo maturity and other factors.
- The 7-day weighted average interbank repo average rate for depository
institutions (DR007) rose to 2.6500% at 9:25 a.m. local time from the close of
2.6030% Monday: Wind Information;
- The CFETS-NEX money-market sentiment index closed at 32 on Monday, up from 28
on Friday.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
[TOPICS: M$A$$$,M$Q$$$,MGQ$$$,MN$MM$]

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