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The 1 - Year Central Bank'S Interest Rate Rose By 8.58 Points At 16 &Nbsp, And The Market Rekindled Expectations Of Higher Interest Rates.

2011/8/16 17:03:00 44

1 Year Central Bank Interest Rate Rise

The central bank's open market annual yield of central bank issued six weeks after steady rise.

RMB 5 billion yuan for 1 years on Tuesday morning.

Central bank ticket

The reference rate of return rose by 8.58 basis points to 3.5840%, breaking the 3.4982% level that had been maintained for 7 weeks. This will undoubtedly stimulate the recent downturn in the demand for central banks, thereby helping the central bank to return to market liquidity. But it has also re ignited the slightly increased interest rate expectations.


A fixed income analyst at a brokerage firm in Shenzhen said that the central bank's initiative to raise the central bank's issuing interest rate and guide interest rates upward is more obvious, and in the current one or two tier market, the rate of interest rate is relatively close.


Guo Hai securities (000750) fixed income analyst Duan Jihua also believes that today's central bank ticket yield rise unexpectedly, "the direct purpose is definitely to increase (attraction) to increase the withdrawal, but the rate hike is also expected to increase."


Duan Jihua explained that from the historical experience, the rise of the central bank's central bank's yield is often the first sign of raising interest rates.

Therefore, the deflation expectations which had weakened once the new credit slowed down may be re ignited.


The central bank released the July financial statistics report on Friday, indicating that the RMB of financial institutions in July

loan

It only increased by 492 billion 600 million yuan, and the growth rate of 14.7% in the broad currency (M2) both hit a low point in the year.

Credit growth is much lower than previous institutional expectations.

CICC issued a report that the possibility of raising the deposit reserve rate again was greatly reduced, and the interest rate hike may be postponed until September.


The yield curve shows that the two tier market 1 year central bank ticket.

interest rate

On Monday, it closed 3.60%, and the one or two market spreads narrowed to 10.18 basis points.


The central bank also conducted a 29 billion yuan 28 day repo operation on Tuesday morning, and today's 28 day repurchase is 25 billion yuan.


The funds expended this week in the open market were 89 billion yuan, less than half of what it expired last week.

The maturity of the ticket is 64 billion yuan, and the positive repurchase expires 25 billion yuan.


The central bank has been in the open market for four consecutive weeks.

Net release

A total of 165 billion yuan, of which 70 billion yuan was invested last week.


By the expected impact of interest rate increases, the 16 A market in early trading has been blocked down trend.


 
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