China Financial Daily

Reproduce the central bank open market operations to buy back hundreds of billions of dollars are
Since February 17 the central bank in the open market to 120 billion yuan period is 91 days after the buy-back operation, the second this week (August 4) the central bank issued 120 billion yuan to 28 Tianzheng repurchase agreements, this is the first central bank since 2009 Second multi-billion-dollar buy-back operation is over. At the same time the central bank also issued 18 billion yuan 1-year central votes.

Cinda Securities analyst bonds that expire this week, the central bank for 246 billion yuan of funds, 188 billion yuan last surge. Pressure due to return this week, so the central bank increased the repo efforts is to maintain the basic stability of the currency market.

CITIC voted bonds to build red ground field researcher pointed out that the larger the amount of funding due this week, Tuesday has 138 billion yuan from circulation, but there is still the expiration of 108 billion yuan of funds, the central bank is expected this week could be put to the market micro-net.

From the issue of interest rate perspective, the central bank on August 4 issued 1-year bills, the issue price of 98.29 yuan, the reference yield of 1.7397 percent. The yield increase over the previous period of about four basis points, rising for the fifth consecutive week. In addition, at the same time period issue is the 28-day repurchase rate also rose to 1.16 percent, the rate is lower than the previous period also rose by 4 basis points.

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