央行将开展9000亿元MLF 连续八个月加量续作

Core Viewpoint - The People's Bank of China (PBOC) is set to conduct a 900 billion yuan Medium-term Lending Facility (MLF) operation on October 27, indicating a continued effort to maintain liquidity in the banking system [1] Summary by Relevant Sections MLF Operations - The PBOC will conduct a 900 billion yuan MLF operation with a one-year term, marking the eighth consecutive month of increased MLF issuance [1] - With 700 billion yuan of MLF maturing in October, the net MLF injection for the month will reach 200 billion yuan [1] Market Liquidity - In October, the PBOC has conducted two rounds of reverse repos, resulting in a total net injection of 400 billion yuan [1] - Combined, the MLF and reverse repos will release a total of 600 billion yuan in medium-term liquidity for October, maintaining the same net injection scale as the previous month [1] Monetary Policy Direction - Since March, the MLF has returned to its role as a liquidity injection tool, with the PBOC consistently increasing MLF issuance [1] - Analysts believe that the PBOC will continue to use both reverse repos and MLF to inject medium-term liquidity into the market [1]