央行重启14天期逆回购，平滑跨年流动性

Core Viewpoint - The central bank has resumed 14-day reverse repurchase operations to stabilize liquidity as the year-end approaches, indicating a flexible and precise monetary policy adjustment [1] Group 1: Central Bank Actions - On December 18, the central bank conducted a 14-day reverse repurchase operation, injecting 100 billion yuan into the market [1] - Simultaneously, the central bank also carried out a 7-day reverse repurchase operation worth 88.3 billion yuan [1] Group 2: Market Implications - Industry experts believe these actions are aimed at addressing year-end funding demands and smoothing short-term fluctuations through flexible adjustments in the maturity structure [1] - There is an increasing market expectation for a reserve requirement ratio (RRR) cut at the beginning of next year due to the coordinated effect of various liquidity tools [1]