BEIJING (MNI) – The People’s Bank of China injected CNY40 billion in seven-day reverse repos and CNY20 billion in 14-day reverse repos via open-market operations Thursday, Wind Information, a Shanghai-based financial data provider, said.
This resulted in a net injection of CNY60 billion for the day, as no reverse repos mature on Thursday.
This is the first time that the PBOC made net injection for four straight trading days since June 13 – June 19, when the PBOC made net injections for five consecutive trading days.
The CFETS-ICAP money-market sentiment index ended at 57 on Wednesday – down from 62 at Tuesday’s close. The reading jumped to 65 on Monday from 38 on last Friday, due reductions in liquidity caused by payments for taxes and government bonds purchases. The lower the reading the better the liquidity conditions in the interbank market.
The PBOC is expected to make an official announcement on its official website about this morning’s OMO around 9:45a.m. Beijing time.
The benchmark seven-day repo average was last at 2.7080%, compared with 2.8327% on Wednesday.
WEDNESDAY, JULY 19, 2017 – 21:43
–MNI Beijing Bureau; +86 10 85325998; email: [email protected]
–MNI BEIJING Bureau; +1 202-371-2121; email: [email protected]
Source: MNI