PBOC Skips OMOs on Monday; Drains CNY40 Bln

Date 1/8/2018 4:34:46 PM

    BEIJING (MNI) - The People's Bank of China skipped its open market ‚Äúrelatively high" level, which can absorb the impact of maturing reverse repos.

     This results in a net drain of CNY40 billion for the day, as a total ofCNY40 billion in reverse repos matures on Monday.

     Today is the 11th consecutive trading day that the PBOC skipped its openmarket operations.

     There will be a total of CNY410 billion in reverse repos maturing this week.

     The CFETS-ICAP money-market sentiment index ended at 33 on Friday, slightly down from 34 at Thursday's close. The lower the reading the better the liquidity conditions in the interbank market.

     The benchmark seven-day repo average was last at 2.6500%, compared with 2.6860% on Friday.


Edited by SHMET