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央行月内两次启动买断式逆回购 实现2000亿元净投放
Zheng Quan Ri Bao·2025-06-16 16:44

Group 1 - The People's Bank of China (PBOC) announced a 400 billion yuan reverse repurchase operation to maintain liquidity in the banking system, marking the first time the tool has been used twice in a month [1] - The reverse repurchase operation is aimed at enhancing liquidity management and cross-period adjustment capabilities within one year [1] - A total of 20 billion yuan in net reverse repurchase operations is expected to be implemented by June 16, following the maturity of 5 billion yuan in three-month and 7 billion yuan in six-month reverse repos [1] Group 2 - The increase in reverse repurchase operations in June follows a 1 trillion yuan reduction in reserve requirements in May, aimed at maintaining ample liquidity amid high government bond issuance and peak periods for bank interbank certificates of deposit [2] - The long-term liquidity supply exceeding 1 trillion yuan in May effectively countered the pressure from government bond net payments, which reached a record high of 910.2 billion yuan [2] - The policy signals a continued emphasis on quantity-based monetary policy tools to support credit expansion and enhance counter-cyclical adjustments [2]