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PBOC Skipped OMOs Tuesday; Liquidity Level Unchanged

     BEIJING (MNI) - The People's Bank of China skipped open-market operations
Tuesday for a fourth consecutive trading day, according to the PBOC. Liquidity
in the banking system was "relatively high," it said.
     This resulted in a net zero injection/drain for the day.
     No reverse repos mature Tuesday. 
     The CFETS-ICAP money-market sentiment index ended at 44 on Monday compared
with 42 at Friday's close. The lower the reading the better the liquidity
conditions in the interbank market.
     The benchmark seven-day repo average was last at 2.6540% compared with
2.8705% Monday.
--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com
[TOPICS: MMQPB$,M$A$$$,M$Q$$$,MN$MM$]

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