Group 1 - The central bank announced a 10 trillion yuan reverse repurchase operation on September 5, with a term of 3 months, to maintain ample liquidity in the banking system [1] - Market liquidity is tightening due to factors such as government bond issuance and the maturity of interbank certificates of deposit, with a total maturity of 35 billion yuan in September [1][2] - Experts predict that the central bank will continue to implement reverse repurchase operations to ensure liquidity remains sufficient, especially in light of upcoming bond issuances [2][3] Group 2 - There is an expectation for an additional 6-month reverse repurchase operation this month, as well as a continuation of the medium-term lending facility (MLF) to inject liquidity [2] - The central bank's operations are aimed at stabilizing market expectations and supporting government bond issuance, while also signaling a continued supportive monetary policy stance [2] - In the fourth quarter, the central bank may implement a reserve requirement ratio cut and resume government bond trading to further enhance liquidity [3]
央行今开展1万亿元买断式逆回购操作，专家：月内有望二度操作实现“加量续作”
Shang Hai Zheng Quan Bao·2025-09-04 23:35