6月3日，中国人民银行以固定利率、数量招标方式开展了4545亿元7天期逆回购操作，操作利率 1.40%。因今日有8300亿元7天期逆回购到期，当日实现净回笼3755亿元。 ...

中国央行今日开展4545亿元7天逆回购操作，操作利率持平于1.40%。今日有8300亿元逆回购到期。 ...

上海银行间同业拆放利率（Shibor）隔夜与7天品种继续上行，14天品种微跌。具体来看，隔夜Shibor上涨6.00BP，报1.4710%；7天 Shibor上涨1.50BP，报1.6170%；14天Shibor下跌0.50BP，报1.7390%。 上海银行间同业拆放利率（5月30日） 银行间质押式回购市场方面，隔夜品种继续上涨，R007品种与R014延续倒挂，R007品种成交占比大跌至9.2%。具体看，DR001、R001 加权平均利率分别上行7.0BP、10.3BP，报1.4822%、1.5667%，成交额分别减少2589亿元、5841亿元；DR007、R007加权平均利率分别 上行3.2BP、下行4.3BP，报1.6645%、1.6972%，成交额分别减少1212亿元、8270亿元；DR014、R014加权平均利率分别上行0.5BP、下 行3.0BP，报1.7236%、1.6968%，成交额分别减少21亿元、758亿元。 新华财经北京5月30日电（高二山）人民银行30日开展2911亿元7天期逆回购操作，操作利率为1.40%，与此前持平；鉴于当日有1425亿 元逆回购到期，公开市场实现净投放1486亿元。 ...

中国央行同日公告称，2025年5月，中国人民银行未开展公开市场国债买卖操作。 中国央行公告称，为保持银行体系流动性充裕，2025年5月中国人民银行以固定数量、利率招标、多重 价位中标方式开展了7000亿元买断式逆回购操作。 ...

Core Points - The People's Bank of China (PBOC) conducted a 7-day reverse repurchase operation of 142.5 billion yuan today, maintaining the operation rate at 1.40% [1] - A total of 106.5 billion yuan in reverse repos is set to mature today [1] - Throughout this week, the PBOC has executed 7-day reverse repurchase operations totaling 946 billion yuan, with 486 billion yuan maturing this week, resulting in a net injection of 460 billion yuan [1]

中国央行今日开展3570亿元7天逆回购操作，操作利率持平1.40%。今日有1800亿元逆回购到期。 ...

Group 1 - The People's Bank of China conducted a 7-day reverse repurchase operation of 106.5 billion yuan today, maintaining the operation rate at 1.40% [1] - A total of 77 billion yuan in reverse repos is set to mature today [1] - Throughout the week, the People's Bank of China has conducted a total of 486 billion yuan in 7-day reverse repurchase operations, with 836.1 billion yuan in 7-day reverse repos and 125 billion yuan in 1-year MLF maturing this week, resulting in a net withdrawal of 475.1 billion yuan [1]

| 日期 | 类别(全部) | 量(亿) | 期限 | 利率 | | --- | --- | --- | --- | --- | | 2025-05-09 | 逆回购 | 770 | 7天 | 1.4 | | 2025-05-08 | 逆回购 | 1586 | 7天 | 1.4 | | 2025-05-07 | 逆回购到期 | 5308 | 7天 | | | 2025-05-07 | 逆回购 | 1955 | 7天 | 1.5 | | 2025-05-06 | 逆回购到期 | 10870 | 7天 | | | 2025-05-06 | 逆回购 | 4050 | 7天 | 1.5 | | 2025-04-30 | 逆回购到期 | 1080 | 7天 | | | 2025-04-30 | 逆回购 | 5308 | 7天 | 1.5 | | 2025-04-29 | 逆回购到期 | 2205 | 7天 | | | 2025-04-29 | 逆回购 | 3405 | 7天 | 1.5 | 0 2025/05/06 2025/05/05 2025/04/22 2025/04/23 2025/04/34 2025/04/ ...

Core Viewpoint - The People's Bank of China (PBOC) did not conduct any open market operations for government bonds in April 2025 [1] Group 1 - The PBOC's decision indicates a potential shift in monetary policy or market conditions affecting government bond trading [1]

Group 1 - The report indicates that the external environment is severe, leading to a balanced and slightly loose funding situation, with expectations of a slight decline in market interest rates in April [3][5][87] - In March, the central bank increased liquidity, resulting in a slight easing of the funding environment, with average interbank and exchange repo rates mostly declining [3][12][55] - The average overnight transaction volume in the interbank market increased compared to the previous month, while the exchange's overnight transaction volume decreased [42][49] Group 2 - Key indicators in the overseas currency market show that the Federal Reserve paused interest rate cuts in March, and short-term U.S. Treasury rates remained stable [7][9] - Domestic monetary market indicators reveal a slight easing in March, with average repo rates declining, while fiscal deposits increased significantly [5][11] - The report predicts that fiscal deposits will continue to rise in April, with a slight decrease in the excess reserve ratio expected [56][66][81] Group 3 - The report highlights that the average yield on short-term bonds increased in March, with specific changes in yields for various types of bonds [13][32] - The average annualized yield of money market funds decreased slightly in March, indicating a trend of declining yields [37][41] - The report notes that the central bank may use monetary policy tools such as reserve requirement ratio cuts to counter external pressures [76][87]