中国人民银行以多重价位中标方式开展3000亿元14天期逆回购操作

Core Points - The People's Bank of China (PBOC) announced a 300 billion yuan 14-day reverse repurchase operation on September 22, marking the first implementation following the adjustment of operational rules on September 19 [1] - The adjustment from a single-price bidding to a multiple-price bidding system for the 14-day reverse repurchase operation allows for better reflection of differentiated funding needs among institutions [1] - The timing of this operation is slightly earlier than in previous years, aimed at ensuring stable liquidity across seasonal transitions, indicating a moderately accommodative monetary policy stance [1] Summary by Category Monetary Policy - The PBOC's recent actions reflect an optimization of its liquidity management toolbox, reinforcing the policy status of the 7-day reverse repurchase operation rate [1] Market Operations - On the same day, the PBOC also conducted a 240.5 billion yuan 7-day reverse repurchase operation using a fixed rate and quantity bidding method [1]