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PBOC to Keep Liquidity Ample: Newspaper

CHINA PRESS
MNI (Singapore)

The PBOC will maintain reasonable and ample liquidity in line with its goal of keeping a stable monetary policy, and analysts should not make unfounded tightening predictions that mislead expectations and cause volatility, the PBOC-run Financial News said in a commentary on Sunday. Though some analysts had predicted a marginally tightening condition in May due to surging tax payments and local government bond issuances, the average DR007 for the month, at 2.12%, was 8 bps lower than the 7-day reverse repo rate, the newspaper said. The PBOC will guide the money market rates around its short-term policy interest rate, the newspaper said.

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