Group 1 - The central bank has implemented a net MLF injection of 118 billion yuan in June, marking the fourth consecutive month of increased liquidity support [1][2] - The total net liquidity injection for June, including reverse repos, reached 318 billion yuan, indicating a strong commitment to maintaining market liquidity [1][3] - The central bank's actions are aimed at stabilizing the banking system's liquidity amid increased government bond issuance and the peak of interbank certificates of deposit maturities [2][4] Group 2 - In July, the liquidity gap is projected to reach 1 trillion yuan, with significant pressure from fiscal spending and government bond repayments [4][5] - Historical trends suggest that the central bank typically increases liquidity injections at the end of June, which may provide additional support in July [4][6] - The central bank is expected to continue its accommodative stance, potentially utilizing government bond transactions to enhance liquidity [4][5]
万亿流动性缺口挑战在即，MLF连续4个月净投放稳预期
Di Yi Cai Jing·2025-06-24 11:58