10000亿元！央行明日将开展买断式逆回购操作

Group 1 - The People's Bank of China (PBOC) announced a 1 trillion yuan reverse repo operation on February 13, with a term of 6 months, marking the continuation of net injections for the ninth consecutive month [1] - In February, the PBOC is expected to conduct a total of 1.8 trillion yuan in reverse repo operations, with a net injection of 600 billion yuan after accounting for 1.2 trillion yuan in maturing operations [1] - The increase in net reverse repo operations is aimed at addressing potential liquidity tightening in February, despite the upcoming Spring Festival holiday and ongoing government bond issuances [1] Group 2 - CITIC Securities reports that the demand for cash during the Spring Festival is a major factor affecting liquidity in February, with expectations of a phase of tightening pressure at the end of the month [2] - The PBOC is likely to use various tools, including medium-term lending facilities (MLF) and structural instruments, to maintain liquidity and support financial institutions [2] - Analysts expect that the PBOC will continue to inject medium-term liquidity into the market through a combination of reverse repos and MLF operations [2]