等量续作，央行明日开展3个月期11000亿元买断式逆回购操作｜快讯

Core Viewpoint - The People's Bank of China (PBOC) is set to conduct a 1.1 trillion yuan reverse repo operation on January 8, 2026, to maintain ample liquidity in the banking system, marking the third consecutive month of equal-scale operations [1] Group 1: Reverse Repo Operations - On January 8, 2026, the PBOC will conduct a fixed-quantity, interest-rate tender, multi-price reverse repo operation amounting to 1.1 trillion yuan with a term of 3 months (90 days) [1] - The operation on January 8 will match the 1.1 trillion yuan of 3-month reverse repos maturing on the same day, indicating a continuation of the same scale of operations [1] - In January, an additional 600 billion yuan of 6-month reverse repos is set to mature, with expectations for another 6-month operation, likely with an increased amount [1] Group 2: Monetary Policy Outlook - Analysts anticipate that the PBOC will also consider the 200 billion yuan of Medium-term Lending Facility (MLF) maturing in January, potentially leading to an increased operation [1] - Overall, the PBOC is expected to utilize both reverse repos and MLF tools to inject medium-term liquidity into the market, reflecting a continuation of a moderately accommodative monetary policy stance in 2026 [1]