Workflow
1 万亿逆回购 “精准续作”!央行释放明确信号,市场流动性获支撑-财经-金融界
Jin Rong Jie·2025-09-05 03:01

Core Viewpoint - The People's Bank of China (PBOC) is conducting a 1 trillion yuan reverse repurchase operation to maintain liquidity in the banking system, indicating a continuation of its supportive monetary policy stance [1] Group 1: Reverse Repo Operations - On September 5, the PBOC will conduct a 1 trillion yuan reverse repurchase operation with a term of 3 months (91 days) [1] - This operation is essentially a rollover of the 1 trillion yuan reverse repos maturing on the same day, maintaining the liquidity level [1] - Analysts expect the PBOC to continue its net injection of liquidity through reverse repos, potentially increasing the amount in future operations [1][1] Group 2: Market Impact and Expectations - The PBOC's use of monetary policy tools like MLF and reverse repos aims to inject medium-term liquidity into the market, stabilizing market expectations and supporting government bond issuance [1] - There is an indication that the PBOC may adopt an aggressive approach in its future operations to counter tightening liquidity conditions [1][1]