DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

PBOC May Reduce MLF Injections Next Monday-Herald

CHINA PRESS
MNI (Singapore)

The PBoC may reduce the amount of medium-term liquidity in the banking system during next Monday’s MLF operation, as the continued presence of loose funding conditions in the interbank market has resulted in increased leverage and arbitrage plays, the 21st Century Business Herald reported, citing analysts. In the first week of August, the DR001 rate fell to around 1%, while the DR007 rate fell below 1.3%, with both measures reaching the lowest level observed in 2022, operating clearly below the 7-day reverse repo rate of 2.1%. The substantial deviation of market interest rates from policy rates will weaken the guiding role of policy rates and hinder monetary policy transmission, with the newspaper noting that the central bank is likely to intervene moderately if the DR001 rate falls below 1%, citing Ming Ming, chief economist at CITIC Securities.

Energy BulletsCommodities
Energy BulletsCommodities

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.