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PBOC Signals Stability and Prudence through Bigger RR: Daily

CHINA PRESS
MNI (Beijing)

The People's Bank of China signaled its intention to ensure sufficient liquidity while keeping its prudent stance when it raised the size of Wednesday's OMO reverse repo to CNY30 billion from the usual CNY10 billion but keeping the rate unchanged, the Economic Information Daily said citing analyst Zhang Xu of Everbright Securities. The central bank wants to meet the market's expectations as liquidity demand is expected to rise going into the next month, the daily said. The operation was the second time amounting to CNY30 billion since end-June, it said. The central bank is likely to continue guide market rates including DR007 around OMO rates, Zhang was cited as saying.

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