Free Trial

MNI: PBOC Skips Open Market Operation; Drains CNY70 Billion

     BEIJING (MNI) - The PBOC skipped OMO on Monday, stating that the increasing
fiscal expenditure towards month-end can absorb the impact of maturing reverse
repos, and that it intends to keep liquidity condition at a "reasonable and
stable" level.
  - This resulted in a net drain of CNY70 billion after the same amount of
reverse repo matured;
  - There will be a total of CNY160 billion in reverse repo maturing this week;
  - CFETS-ICAP's money-market sentiment index closed at 39 on Friday, up from 36
on Thursday; 
  - Benchmark 7-day deposit repo average fell to 2.6500% on Monday from 2.7036%
on Friday: 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$MM$]

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.