1.1万亿元！央行节后首日开展买断式逆回购

Group 1 - The People's Bank of China (PBOC) conducted a 1.1 trillion yuan reverse repo operation with a three-month term, indicating a continued net liquidity injection in October [1] - In October, there is an expected liquidity gap due to seasonal cash demand, with a total of 1.3 trillion yuan maturing [1] - The PBOC has been consistently using reverse repos to supplement medium to long-term funding gaps since last October, enhancing the timeliness of information disclosure regarding these operations [1] Group 2 - The PBOC's monetary policy tools, including MLF and reverse repos, have been actively used to maintain liquidity, with MLF seeing an increase for seven consecutive months [2] - The PBOC aims to keep liquidity ample and guide financial institutions to increase credit supply, aligning social financing scale and money supply growth with economic growth and price level expectations [2] - The recent monetary policy committee meeting emphasized the need for flexible and anticipatory policies in light of domestic demand shortages and ongoing external uncertainties [2]