货币市场日报：7月2日

Monetary Policy Operations - The People's Bank of China conducted a 985 billion yuan reverse repurchase operation with a rate of 1.40%, unchanged from previous levels, resulting in a net withdrawal of 2,668 billion yuan due to 3,653 billion yuan of reverse repos maturing on the same day [1][12] Interbank Offered Rates - The Shanghai Interbank Offered Rate (Shibor) saw a slight decline across various maturities, with the 7-day Shibor falling below 1.5%. Specifically, the overnight Shibor decreased by 0.20 basis points to 1.3650%, the 7-day Shibor dropped by 3.30 basis points to 1.4970%, and the 14-day Shibor fell by 1.50 basis points to 1.5540% [1][2][3] Repo Market Activity - In the interbank pledged repo market, short-term rates continued to decline slightly. The weighted average rates for DR001 and R001 fell by 0.8 basis points and 3.0 basis points, respectively, to 1.3597% and 1.4191%, with transaction volumes decreasing for DR001 and increasing for R001. Similarly, DR007 and R007 rates decreased by 4.0 basis points and 4.9 basis points, respectively [4][9] Funding Conditions - Overall funding conditions remained loose, with overnight rates trading in the range of 1.30%-1.55% and 7-day rates around 1.53%-1.58%. By the end of the trading day, the overnight rates had further eased to around 1.30% [9][10] Interbank Certificate of Deposit Issuance - On July 2, there were 50 interbank certificates of deposit issued, with a total issuance amount of 770.3 million yuan, indicating active market participation [9][10]