MNI: PBOC Net Drains CNY23 Bln via OMO Wednesday

MNI (BEIJING) - The People's Bank of China (PBOC) conducted CNY75.5 billion via 7-day reverse repos, with the rate unchanged at 1.40%. The operation led to a net drain of CNY23 billion after offsetting the maturity of CNY98.5 reverse repo today, according to Wind Information.
 

• The seven-day weighted average interbank repo rate for depository institutions (DR007) fell to 1.4497% at 09:54 am local time from the close of 1.4635% on Tuesday.
• The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 47 on Tuesday, compared with the close of 49 on Monday. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.