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MNI: PBOC Skips Open Market Operation; Drains CNY40 Billion

     BEIJING (MNI) - The PBOC skipped OMO on Thursday for the fifth consecutive
trading day, stating that the increasing fiscal expenditure towards month-end
would absorb the impact of maturing reverse repo and keep liquidity conditions
at a "reasonable and stable" level. 
  - This resulted in a net drain of CNY40 billion after maturity of the same
amount of reverse repo;
  - CFETS-ICAP's money-market sentiment index closed at 42 on Wednesday,
slightly down from 43 on Tuesday; 
  - Benchmark 7-day deposit repo average fell to 2.6560% on Thursday from
2.9118% on Wednesday: Wind Information. 
--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$MM$]

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