Group 1 - The People's Bank of China (PBOC) announced a fixed amount of 1.1 trillion yuan reverse repos to maintain liquidity in the banking system, with a term of 3 months (90 days) [1] - This operation is a continuation of the PBOC's strategy, marking the third consecutive month of equal rollover for the 3-month reverse repos, with 1.1 trillion yuan maturing this month [1] - In addition to the 3-month reverse repos, there will be 600 billion yuan of 6-month reverse repos and 200 billion yuan of Medium-term Lending Facility (MLF) maturing this month [1] Group 2 - The PBOC emphasized the implementation of a moderately loose monetary policy for 2026, aiming to keep liquidity ample [2] - According to a report from CITIC Securities, the PBOC is expected to utilize various policy tools, including government bond transactions, MLF, reverse repos, and possibly reserve requirement ratio cuts, to maintain liquidity [2] - The overall expectation for January is that the funding environment will remain relatively loose [2]
央行等量续做3个月期买断式逆回购
Zheng Quan Ri Bao·2026-01-07 17:25