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Free AccessPBOC Skipped OMO Again Friday; Drained Net CNY160 Bln
BEIJING (MNI) - The People's Bank of China skipped its open-market
operations again on Friday, the central bank announced.
This resulted in a net drain of CNY160 billion for the day, as a total of
CNY160 billion in reverse repos mature on Friday.
The PBOC said interbank market liquidity remains at a "relatively high
level" and that strong end-of-month government fiscal spending was offsetting
the impact of expiring reverse repos.
The PBOC drained a net CNY360 billion via its open market operations this
week.
The PBOC drained a net CNY15 billion in September through open market
operations and its Medium-term Lending Facility (MLF). The PBOC added a net
CNY15 billion via the MLF this month.
The CFETS-ICAP money-market sentiment index ended at 49 on Thursday, down
from 54 at Wednesday's close. The lower the reading the better the liquidity
conditions in the interbank market.
The benchmark seven-day repo average was last at 2.7298%, compared with
2.9673% on Thursday.
--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com
--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com
[TOPICS: MMQPB$,M$A$$$,M$Q$$$,MN$MM$]
To read the full story
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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.