PBOC posts CNY 158.7bn net liquidity drain this week; CNY 147.85bn in reverse repos set to mature next week
AI Market Summary
PBOC open-market operations led to a sizable weekly net liquidity withdrawal as reverse repos matured in excess of injections. A heavy maturity schedule next week, including a large outright reverse repo maturity, keeps near-term funding conditions sensitive to any rollover decisions. The headline signals a tighter liquidity impulse at the margin, which can influence China rates, risk appetite, and broader macro-linked assets.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+0.96%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Wind data showed the People's Bank of China carried out CNY 1,578.5 billion of reverse repo operations in the open market this week. With CNY 3,165.5 billion of reverse repos maturing over the same period, the central bank recorded a net liquidity withdrawal of CNY 1,587 billion.
Looking ahead, CNY 678.5 billion of reverse repos will mature next week, including CNY 157.5 billion on Monday, CNY 69.5 billion on Tuesday, CNY 100 billion on Wednesday, CNY 288.5 billion on Thursday and CNY 63 billion on Friday. In addition, CNY 800 billion of outright reverse repos are due to mature next Monday.