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PBOC Seen Keeping Ample Liquidity for New Year Holiday: Journal

CHINA PRESS

The People's Bank of China is likely to keep ample liquidity during the Chinse New Year beginning this week as fiscal spending and liquidity controls ease, the China Securities Journal wrote in a commentary. Interbank liquidity conditions should also improve as pre-holiday injections mature, the newspaper wrote. The PBOC is likely to refrain from raising OMO rates in H1 to support the credit bond market after nearly CNY50 billion in planned issuances of credit bonds were canceled, wrote the newspaper. Short-term market rates may still rise due to rising asset prices, the weakening dollar and higher consumer demand, the Journal said.

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