Group 1 - The People's Bank of China (PBOC) conducted a 7-day reverse repo operation of 131 billion yuan at a fixed rate of 1.4%, resulting in a net withdrawal of 275.5 billion yuan due to 406.5 billion yuan of reverse repos maturing on the same day [1] - From June 23 to June 30, the PBOC conducted a total of 2,027.5 billion yuan in reverse repos, achieving a net injection of 1,067.2 billion yuan after offsetting 960.3 billion yuan of maturing repos [1] - In July, the overall net financing of government bonds is expected to be around 1,200 billion yuan, with a liquidity gap of approximately 1,000 billion yuan after excluding MLF and reverse repo maturities [1] Group 2 - Fiscal factors are anticipated to have an increasing impact on liquidity in July, with the possibility of the PBOC restarting government bond purchases to inject liquidity [2] - The PBOC's willingness to maintain liquidity support is expected to continue beyond the quarter-end, even if it does not restart government bond purchases or utilize total tools [2]
央行昨日开展1310亿元7天期逆回购 公开市场实现净回笼2755亿元
Zheng Quan Ri Bao·2025-07-01 16:28