1000亿元！央行开展14天期逆回购操作

Core Viewpoint - The People's Bank of China (PBOC) has conducted a total of 883 billion yuan 7-day reverse repos at a fixed rate of 1.40% and 1,000 billion yuan 14-day reverse repos to manage liquidity ahead of year-end financial assessments and cash withdrawal demands [1][5]. Group 1: Reverse Repo Operations - The PBOC executed 883 billion yuan in 7-day reverse repos, maintaining the interest rate at 1.40% [1][4]. - A 1,000 billion yuan 14-day reverse repo operation was also conducted, which is slightly above the average scale of previous years [5]. - The simultaneous execution of both 7-day and 14-day reverse repos indicates a flexible approach to managing liquidity across different time frames [5]. Group 2: Market Liquidity Management - The 14-day reverse repo is aimed at smoothing out liquidity fluctuations and ensuring a stable and ample market liquidity environment as year-end approaches [5]. - Analysts expect the PBOC to utilize various liquidity management tools to enhance the precision and effectiveness of short- to medium-term liquidity management [6]. - The focus of monetary policy remains on creating a stable financial environment for the real economy, ensuring that liquidity tools effectively stabilize short-term fluctuations and guide reasonable interest rates [6].