中国人民银行将开展6000亿元买断式逆回购操作

Core Viewpoint - The People's Bank of China (PBOC) announced a 600 billion yuan reverse repurchase operation to maintain liquidity in the banking system, indicating a continued supportive monetary policy stance [1] Group 1: Monetary Policy Actions - On September 15, the PBOC will conduct a fixed amount, interest rate tender, multi-price bidding reverse repurchase operation of 600 billion yuan with a term of 6 months (182 days) [1] - This operation is equivalent to a 300 billion yuan increase in the 6-month reverse repurchase, as 300 billion yuan of the same term is maturing in the month [1] - On September 5, the PBOC conducted an equal renewal of 1 trillion yuan for a 3-month reverse repurchase that was maturing, indicating a total increase of 300 billion yuan for both terms by September 15, marking the fourth consecutive month of increased operations [1] Group 2: Market Implications - According to Wang Qing, Chief Macro Analyst at Dongfang Jincheng, the PBOC's reverse repurchase operations continuously inject liquidity into the market [1] - This action helps stabilize market expectations and supports government bond issuance, while also signaling a sustained commitment to quantitative policy tools [1] - The ongoing supportive monetary policy stance reflects the PBOC's intention to bolster economic conditions [1]