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MNI: PBOC Skips Open Market Operations; Net Drains CNY250 Bln

     BEIJING (MNI) - The People's Bank of China (PBOC) skipped open market
operations for the second day on Tuesday, draining net CNY250 billion liquidity
given the same amount of reverse repos maturing today, according to Wind
Information. 
     - The increased fiscal spending near month-end can offset the maturity of
reverse repos, leaving reasonable and ample level of liquidity, PBOC said.
     - The 7-day weighted average interbank repo rate for depository
institutions (DR007) fell to 2.6531% at 9:25 a.m. local time from weighted
average 2.6745% on Monday: Wind Information.
     - The CFETS-NEX money-market sentiment index closed at 41 on Monday,
unchanged from the close of Friday. A lower index indicates the market doesn't
expect tighter liquidity.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
[TOPICS: M$A$$$,M$Q$$$,MGQ$$$,MN$MM$]

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