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BEIJING (MNI) - The PBOC skipped OMO on Friday for the sixth consecutive
trading day, stating that the increasing fiscal expenditure towards month-end
would absorb the impact of maturing reverse repos and keep liquidity conditions
at a "reasonable and stable" level.
- This resulted in a net drain of CNY30 billion for the day after maturity of
the same amount of reverse repos;
- The central bank drained a total of CNY160 billion this week by skipping its
OMO. After nearly two months of a loose stance on liquidity, the PBOC tightened
its policy after the seasonal liquidity demand reduced.
- CFETS-ICAP's money-market sentiment index closed at 43 on Thursday, slightly
down from 42 on Wednesday;
- Benchmark 7-day deposit repo average rose to 2.6683% on Friday from 2.5570%
on Thursday: Wind Information.
--MNI Beijing Bureau; +86 (10) 8532 5998; email: firstname.lastname@example.org
--MNI Singapore Bureau; +65 8233 2326; email: Asia-Editor@marketnews.com