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人行主管媒體:連日低規模逆回購非流動性收緊信號
人行近日連續開展較低數量七天期逆回購操作,該「地量」舉動引發市場關注,部分投資者擔憂貨幣政策取向是否轉向收緊。中國人民銀行主管的《金融時報》發文解釋,結合當前銀行間市場實際情況及多重支撐因素來看,此次「地量」操作並非流動性收緊的信號,而是市場資金供需平衡的自然體現,更是人行精準調控及優化流動性投放結構的具體舉措,銀行間市場流動性充裕的態勢並未改變。文章並稱,...
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人行主管媒體:連日低規模逆回購非流動性收緊信號
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人行近日連續開展較低數量七天期逆回購操作,該「地量」舉動引發市場關注,部分投資者擔憂貨幣政策取向是否轉向收緊。

中國人民銀行主管的《金融時報》發文解釋,結合當前銀行間市場實際情況及多重支撐因素來看,此次「地量」操作並非流動性收緊的信號,而是市場資金供需平衡的自然體現,更是人行精準調控及優化流動性投放結構的具體舉措,銀行間市場流動性充裕的態勢並未改變。

文章並稱,人行「地量」操作的核心原因是在於市場機構對人行資金的需求大幅降低,而非央行主動收緊流動性。3月底,人行為呵護跨季資金面加大投放力度,疊加財政季末集中支出的支撐,4月初銀行體系資金面已呈現寬鬆格局。更為關鍵的是,人行公告中特意加入「全額滿足了一級交易商需求」的措辭,清晰傳遞出政策導向為操作量減少並非刻意收縮,貨幣政策適度寬鬆方向始終未變。(ta/)

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