央行公开市场开展1640亿元7天期逆回购操作 操作利率1.40%

Core Viewpoint - The central bank is actively managing liquidity in the banking system through various monetary policy tools, including reverse repos, to ensure a stable financial environment and support economic growth. Group 1: Central Bank Operations - On June 11, the central bank conducted a 7-day reverse repo operation of 164 billion yuan at a fixed rate of 1.40%, with a net withdrawal of 50.9 billion yuan for the day due to 214.9 billion yuan of reverse repos maturing [1] - The central bank announced a 1 trillion yuan buyout reverse repo operation for June 6, marking a significant liquidity injection to maintain ample liquidity in the banking system [3][4] - The central bank has established a new section on its website to disclose monthly liquidity operations, enhancing transparency and demonstrating its commitment to stabilizing the financial market [4][5] Group 2: Market Liquidity and Interest Rates - The overnight pledged repo weighted average rate has decreased to around 1.35%, the lowest since December 2024, indicating a relaxed liquidity environment [3] - Analysts expect that the central bank will continue to use reverse repos and medium-term lending facilities (MLF) to maintain reasonable liquidity levels, especially with a high volume of interbank certificates maturing in June [5][6] - The central bank's proactive measures are aimed at controlling fluctuations in the money market and stabilizing market expectations, which is crucial for enhancing credit availability for businesses and households [5][6] Group 3: Economic Policies and Future Outlook - The government is accelerating the rollout of measures to stabilize employment and the economy, with a focus on effective investment and consumption [7] - There is an expectation that the central bank may resume government bond purchases in July or August to increase its holdings, which is seen as urgent for achieving financial strength goals [7] - The upcoming Lujiazui Forum on June 18-19 will feature significant financial policy announcements from central financial management departments, indicating ongoing efforts to enhance the financial landscape [7]