央行开展1640亿元7天期逆回购操作

Group 1 - The People's Bank of China (PBOC) conducted a 7-day reverse repo operation of 164 billion yuan at a fixed rate of 1.40%, resulting in a net withdrawal of 50.9 billion yuan on June 11, 2023 [1] - As of June 11, the PBOC has withdrawn a total of 804.7 billion yuan in June through reverse repos [1] - The PBOC announced a rare advance notice for a 10 trillion yuan buyout reverse repo operation for 3 months, which is a shift from the usual end-of-month announcements, enhancing market transparency [1][2] Group 2 - Analysts suggest that the PBOC may conduct further operations within the month, as the new announcement schedule allows for better observation of market conditions and liquidity needs [2] - The market is closely watching for the resumption of government bond purchases, which have not occurred for five consecutive months, as the PBOC aims to maintain liquidity and stabilize the bond market [2][3] - Analysts expect that the likelihood of resuming government bond purchases in the short term is low due to the current low yield levels, but there may be a higher chance in the second half of the year as government bond issuance peaks [3]