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Today's CNY180bn net injection via......>

CHINA RATES
CHINA RATES: Today's CNY180bn net injection via OMOs (albeit only via 7-Day
reverse repos) adds credence to the idea that the PBoC is trying to exert some
control over the 7-Day repo rate, given the surprise MLF injection Friday &
today's aforementioned net injection via OMO.
- Also worth highlighting that the PBoC lowered the rate applied to its 7-Day
reverse repo ops by 5bp, to 2.50%.
- 10-Year government bond yields sit some 4.6bp lower on the day at writing,
printing at 3.196%.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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