1.4万亿元！央行月内接连两次大动作，传递出什么信号？丨快问快答

Core Viewpoint - The People's Bank of China (PBOC) has conducted two rounds of buyout reverse repurchase operations within the same month, indicating a proactive approach to manage liquidity and stabilize market expectations [1][2][3]. Group 1: Buyout Reverse Repo Operations - The PBOC initiated a buyout reverse repo operation of 400 billion yuan with a six-month term on June 16, following a 1 trillion yuan operation at the beginning of the month [1]. - This marks the first time the PBOC has utilized this tool twice in one month, reflecting a strategic move to enhance liquidity management [1]. Group 2: Signals from the Operations - The operations in June coincide with the maturity of 500 billion yuan of three-month and 700 billion yuan of six-month buyout reverse repos, leading to a net injection of 200 billion yuan by mid-June [2]. - The timing of these operations suggests an intention to guide market expectations and bolster confidence, as they were announced earlier than usual [2]. Group 3: Impacts of the Operations - The increase in mid-term liquidity through these operations is expected to maintain ample liquidity in the banking system, especially during a period of significant government bond issuance and peak maturity of interbank certificates of deposit [3]. - The PBOC's actions signal a commitment to using various monetary policy tools to support credit availability for enterprises and households, thereby reducing financing costs in the real economy [3][4].