MNI Test 3, Please Ignore

MNI BRIEF: China Limits, Tightens IPO To Boost Listing Quality

MNI BRIEF: China February New Loans, TSF Pull Back Sharply

MNI BRIEF: China To Strengthen Shareholding Reduction Rules

MNI BRIEF: Net MLF Drain Not Sign Of Tight Liquidity - Paper

MNI: PBOC Conducts CNY387 Bln MLF Fri; Rates Unchanged

MNI: BAKER HUGHES US RIG COUNT 629; OIL RIGS 510; GAS RIGS 116

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

Bond Supply Calendar: EU Synd W/C 18-Mar; SK, BE, BoE APF Ops Mon

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

PBOC Skips OMO Thursday; Drains CNY140 Bln 

--Says Liquidity from Fiscal Spending in October Sufficient to Offset Expiring
Reverse Repos
     BEIJING (MNI) - The People's Bank of China skipped its open market
operations on Thursday, explaining that high fiscal spending last month had kept
banking system liquidity at a relatively high level that could absorb the impact
of maturing reverse repos.
     The lack of OMO today resulted in a net drain of CNY140 billion for the
day, as a total of CNY140 billion in reverse repos mature on Thursday. 
     This is the first trading day that the PBOC has drained liquidity via its
open market operations since Oct. 13. 
     The PBOC has drained a net CNY20 billion in liquidity so far this week.
     A total of CNY90 billion in reverse repos will mature the rest of this
week, and a total of CNY207 billion in Medium-term Lending Facility (MLF) loans
will mature on Friday.
     The CFETS-ICAP money-market sentiment index ended at 43 on Wednesday,
significantly lower than 63 at Tuesday's close. The lower the reading the better
the liquidity conditions in the interbank market.
     The benchmark seven-day repo average was last at 2.6971%, compared with
2.9402% on Wednesday.
--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$MM$]
China Market NewsPolicy NewsPBOCAPACChinaJapanAustraliaNew ZealandRegionCentral Bank News
China Market NewsPolicy NewsPBOCAPACChinaJapanAustraliaNew ZealandRegionCentral Bank News
To read the full story
Close
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.