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PBOC Drains Net CNY60 Billion at OMOs Monday

     BEIJING (MNI) - The People's Bank of China injected CNY130 billion in
seven-day reverse repos and CNY120 billion in 14-day reverse repos via
open-market operations Monday, Wind Information, a Shanghai-based financial data
provider, said.
     This resulted in a net drain of CNY60 billion for the day.
     A total of CNY310 billion in reverse repos matures Monday. 
     Today is the third consecutive trading day the PBOC has drained liquidity
at open-market operations.
     The CFETS-ICAP money-market sentiment index ended at 32 on Friday compared
with 33 at Thursday's close. The lower the reading the better liquidity
conditions in the interbank market.
     The PBOC is expected to make an official announcement on its website about
this morning's OMOs about 9:45a.m., Beijing time.
     The benchmark seven-day repo average was last at 2.6576% compared with
2.7879% on Friday.
--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com
[TOPICS: MMQPB$,M$A$$$,M$Q$$$,MN$MM$]

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