This week nearly trillion reverse repo will expire market optimism, liquidity easing – Sohu Finance-truffe

This week nearly trillion repurchase expires the market optimistic about the expected easing of liquidity – financial Sohu this week nearly trillion yuan repurchase will focus expire market optimism is expected easing liquidity – reporter Fu Suying February 22nd the central bank announced that the interest rate tender to carry out 70 billion yuan repurchase operations, for a period of 7 days, the successful rate of 2.25%. Due to 10 billion yuan reverse repurchase expires in the day, the central bank open market operations will be 60 billion yuan net capital invested in. Related stock movements according to the "Securities Daily" reporter statistics, this week (February 20th to February 26th) a total of 960 billion yuan reverse repurchase expires, the amount due last week further increased. The industry believes that the central bank decided to continue in the open market operation every day, on the 19 day of excessive MLF and lowered its sequel, 6 months and 1 year MLF rate, market liquidity is expected to remain loose. Industrial Bank chief economist Lu political commissar of the "Securities Daily" the reporter said that the short term, increase the frequency of open market operations to the market is like eating a reassurance, help to stabilize expectations, reduce the money market interest rate fluctuations. More importantly, in the long run, each working day to open market operations to further consolidate the operation rate of "open market interest rate anchor" status, the central bank can be more flexible, more quickly to manage liquidity, strengthen the fine-tuning, to prepare for the future better transfer of monetary policy. The new interest rate system is becoming clearer. The former central bank working paper suggested that the upper limit of the future interest rate corridor for standing lending mechanism for lower interest rates, the deposit reserve rate. Some market participants believe that the central bank showed a series of operations to build interest rate corridor, from quantity control to control prices, at the same time continue to maintain low levels of the funds rate, under the guidance of the social cost of financing. Traffic bank chief economist Lian Ping believes that taking into account the fed into the current benchmark interest rate, the interest rate channel has reached a record low, short-term depreciation of the RMB is still pressure and other factors, is expected to decrease the possibility of future use of central bank RRR, interest rates and other traditional tools, instead the short-term liquidity adjustment tool (SLO), standing lending facility (SLF), middle (MLF) to facilitate lending and re lending is more accurate, more targeted, more can guide market interest rates all kinds of open market instruments.

本周近万亿逆回购将到期 市场乐观预计流动性宽松-搜狐财经   本周近万亿元逆回购将集中到期   市场乐观预计流动性宽松   ■本报记者傅苏颖   央行2月22日发布公告称,以利率招标的方式开展700亿元逆回购操作,期限为7天,中标利率为2.25%。因日内有100亿元逆回购到期,周一央行公开市场操作将净投放资金600亿元。    相关公司股票走势 据《证券日报》记者统计,本周(2月20日至2月26日)共有9600亿元逆回购到期,到期量较上周进一步增加。业内人士认为,由于央行决定延续公开市场每日操作,于19日超量续作MLF,并下调了6个月和1年期MLF利率,预计市场流动性仍然宽松。   兴业银行首席经济学家鲁政委对《证券日报》记者表示,短期来看,增加公开市场操作频率就好比给市场吃下一颗定心丸,有助于稳定预期,降低货币市场利率波动。更重要的是,从长远来看,每个工作日进行公开市场操作能够进一步稳固公开市场操作利率“利率锚”的地位,央行可以更灵活、更快速地对流动性进行管理,加强预调微调,为以后更好地传递货币政策做准备。新利率体系日渐清晰。   在此前央行的工作论文中提出,未来利率走廊的上限为常备借贷机制的利率,下限为超额存款准备金的利率。有市场人士认为,央行一系列操作显示欲构建利率走廊,从数量调控转向价格调控,同时继续保持较低的资金利率水平,引导社会融资成本的下行。   交通银行首席经济学家连平认为,考虑到美联储进入加息通道、目前基准利率已达历史最低、人民币短期内仍有贬值压力等因素,预计未来央行使用降准、降息等传统工具的可能性下降,取而代之的是短期流动性调节工具(SLO)、常备借贷便利(SLF)、中期借贷便利(MLF)以及再贷款等更为精准、更具针对性、更能引导市场利率的各类公开市场工具。相关的主题文章: