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PBOC To Increase Liquidity Injection By Month-End

CHINA PRESS
MNI (Singapore)

The People’s Bank of China will likely inject liquidity via large-scale reverse repo operations, as the issuance of government bonds will remain high for the rest of the month and banks continue to increase credit supply, said Feng Lin, analyst at Golden Credit Rating. Since Aug 15, the PBOC has injected a net of CNY691 billion via reverse repo, maintaining a large amount of injection even after the tax payment peak. The daily average of DR007 was 1.88% from Aug 15-22, higher than the seven-day reverse repo rate of 1.8%, indicating a relatively tight state of liquidity. (Source: Securities Daily)

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