On September 18, the central bank launched a 150-billion-day 7-day reverse repurchase and a 50-billion-day 14-day reverse repurchase. In order to influence the peak of the tax period and the issuance of government bonds, and to maintain a reasonable and sufficient liquidity in the banking system, the central bank carried out a 200 billion yuan reverse repurchase operation by means of interest rate bidding.
Among them, the 7-day period of 150 billion yuan reverse bidding operation rate of 2.55%, 14-day period 50 billion yuan reverse repurchase operation rate of 2.7%.
At present, the net output of the whole day is 265 billion yuan. This is the second time the central bank has carried out MLF operations since September. Since last Wednesday, the central bank has implemented a liquidity of liquidity through open market operations for the fifth consecutive day, with a net investment of 735 billion yuan in the past five working days.
In the three trading days after this week, there were 270 billion yuan reverse repurchase due, the central bank seems to intend to replace OMO with MLF's "long money", with long-term, higher interest rate funds, raising capital costs, and forcing banks to lend.
According to Wind statistics, this week's central bank's open market will have a 270 billion yuan reverse repurchase maturity, including no reversal on Monday and Tuesday, and 60 to 100 billion and 110 billion respectively from Wednesday to Friday.
Market participants said that the central bank's increased liquidity support is expected. "In September, there is no need to worry about the funds, and the price is stable."
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