刚刚，央行宣布：明日操作

Core Viewpoint - The People's Bank of China (PBOC) is set to conduct a 700 billion yuan reverse repurchase operation on November 5, 2025, to maintain ample liquidity in the banking system [1] Group 1: Reverse Repo Operations - On November 5, the PBOC will carry out a 700 billion yuan three-month reverse repurchase operation, which is aimed at rolling over the same amount that is maturing [1] - This operation is expected to help keep market liquidity abundant, as there are also 300 billion yuan in six-month reverse repos and 900 billion yuan in Medium-term Lending Facility (MLF) maturing this month [1] Group 2: Expert Insights - Dong Ximiao, Chief Researcher at Zhongan, indicates that the PBOC's actions are intended to ensure liquidity remains sufficient in the market [1] - Wang Qing, Chief Macro Analyst at Dongfang Jincheng, notes that the reverse repo operations will support government bond issuance and encourage financial institutions to increase credit supply, reflecting a continued supportive monetary policy stance [1]