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The PBOC has skipped open market........>

CHINA PRESS
CHINA PRESS: The PBOC has skipped open market operations for a record long 22
trading days, perhaps because maturing repos ensured adequate liquidity
provision, the China Securities Journal said on Monday, citing Liu Yu, an
analyst at Guosheng Securities.
- The central bank's October balance sheet suggests that the PBOC had in fact
conducted repurchase operations, or repos, during the month to withdraw excess
liquidity, the Journal noted, citing Liu.
- The revival of repo operations does not indicate a tightening of monetary
policy. Indeed, in the current environment, further RRR cuts and even outright
interest rate cuts are possible, although any such measures are likely to be
carried out in a directional manner, e.g. targeted RRR cuts or asymmetric rate
cuts, the Journal said.
(Link to the story: https://bit.ly/2DY093E)

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