Core Insights - The People's Bank of China (PBOC) has implemented multiple liquidity injection tools in November 2025, resulting in a net liquidity injection of 500 billion yuan from open market treasury transactions, 254 billion yuan from pledged supplementary loans, 1150 billion yuan from other structural monetary policy tools, and 1000 billion yuan from medium-term lending facilities (MLF) [1] Group 1 - In November, the PBOC's net liquidity injection totaled 2904 billion yuan across various tools [1] - Despite a net withdrawal from the 7-day reverse repurchase operations, the overall liquidity situation was improved through the use of medium- and long-term liquidity tools [1] - Industry experts anticipate that the PBOC will take multiple actions in December to ensure ample market liquidity, especially as the year-end approaches with increased government bond issuance and maturing interbank certificates of deposit [1]
央行：11月多项工具净投放，12月或保障流动性
Sou Hu Cai Jing·2025-12-03 02:16