Free Trial

MNI: PBOC Skips OMOs Wednesday; Drains CNY210 Billion

     BEIJING (MNI) - PBOC skipped its Open Market Operations (OMO) on Wednesday,
stating on its website that the orderly use of Contingent Reserve Allowances
(CRA) and fiscal expenditure can absorb the effects of maturing reverse repos
and cash withdrawals. The statement made today used the same wording as
statements from the last two trading days.  
- Net drain of CNY210 billion today after same amount of reverse repos mature  
- CFETS-ICAP money-market sentiment index closed at 39 yesterday, down from 41
at Monday's close  
- Benchmark 7-day deposit repo average fell to 2.6648% today from 2.8993% on
Tuesday.
--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$MM$]

To read the full story

Close

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.