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MNI: PBOC Skips OMOs for Seventh Consecutive Day

     BEIJING (MNI) - The People's Bank of China skipped its open market
operations on Thursday, stating on its website that further increases in
month-end fiscal expenses can offset the liquidity drain due to local government
bond issuance. The PBOC's inaction resulted in no change in liquidity, as no
reverse repos matured today, according to Wind Information.
  - Today is the seventh day the PBOC has skipped OMO;  
  - CFETS-ICAP's money-market sentiment index closed at 34 on Wednesday, down
from 36 on Wednesday;
  - Benchmark 7-day deposit repo average rose to 2.6464% on Thursday from
2.6302% on Wednesday: Wind Information. 
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@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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