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Free AccessPBOC Skipped OMO Saturday; Drained Net CNY360 Bln for the Week
BEIJING (MNI) - The People's Bank of China skipped its open-market
operations again on Saturday, the central bank announced.
The operation did not add or drain liquidity from the market, since no
reverse repos matured today.
The PBOC repeated that 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 47 on Friday, down
from 49 at Thursday's close. The lower the reading the better the liquidity
conditions in the interbank market.
The benchmark seven-day repo average was last at 2.7206%, compared with
2.9882% on Friday.
--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com
--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com
[TOPICS: MMQPB$,M$A$$$,M$Q$$$,MN$MM$]
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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.