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PBOC Drains Net CNY35 Bln Weds; Rates Unchanged

MNI (Singapore)
(MNI)Beijing

The People's Bank of China (PBOC) conducted CNY460 billion via 7-day reverse repo on Wednesday, with the rate unchanged at 1.80%. The operation has led to a net drain of CNY35 billion after offsetting the maturity of CNY495 billion reverse repos today, according to Wind Information.

  • The seven-day weighted average interbank repo rate for depository institutions (DR007) fell to 1.9900% at 10:39 am local time from the close of 2.0213% on Tuesday.
  • The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 55 on Tuesday, compared with the close of 48 on Monday. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.
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