The central bank conducted a 642.4 billion yuan 7-day reverse repurchase operation today. Industry insiders believe that subsequent funds are expected to ease, and the excess reserve rate in October is expected to rise.
Today, the central bank implemented a large-scale reverse repurchase operation to hedge the large amount of MLF due, and there may be a trillion-dollar deficit in the following four quarters, which could impact the interbank market. The industry believes that the funding gap in October is not significant, and the excess reserve ratio may rise above the seasonal level, with expectations of subsequent funding relief.
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