Policy

PBOC Skipped OMO Wednesday; Drained CNY40 Bln

Date 9/27/2017 5:04:06 PM

BEIJING (MNI) - The People's Bank of China skipped its open marketoperations on Wednesday, the central bank announced on its website.

     This resulted in a net drain of CNY40 billion for the day, as a total ofCNY40 billion in reverse repos mature on Wednesday.

     The PBOC said liquidity conditions in the banking system are at a"relatively high" level as increased fiscal spending towards month-end wereoffsetting the impact of maturing reverse repos.

     The CFETS-ICAP money-market sentiment index ended at 53 on Tuesday, downfrom 57 at Friday's close. The lower the reading the better the liquidityconditions in the interbank market.

     The benchmark seven-day repo average was last at 2.7631%, compared with3.1477% on Tuesday.

Edited by SHMET