The Central Bank Has Approved The Implementation Of &Nbsp Today; 400 Billion Of The Released Funds Have Been Offset.

Although the announcement was announced 18 days ago, market confidence has not been effectively boosted and liquidity has not been released from the tight state.

First of all, half of the funds released have been offset.

The central bank data show that as of the end of 1, China's foreign exchange accounted for 25 trillion and 499 billion 623 million, of which, in January, the monthly foreign exchange accounted for 140 billion 900 million.

This is the first net increase in foreign exchange holdings in China in the fourth quarter of last year after three consecutive months of negative growth.

In January, the fiscal savings increased by 350 billion 300 million, against the new foreign exchange accounts in the month, and the net reduction of the basic currency by about 200 billion.

This scale is equivalent to half of the 400 billion of the central bank's release of funds.

Second, money.

Third, open market operations are suspended.

Although the central bank on Monday asked the open market dealers to report 28 day and 91 day repo demand, they did not operate on Tuesday and Thursday.

After the central bank ceased for eight weeks, the repo also stopped completely.

Yesterday, the Ministry of Finance and the central bank conducted the first phase of the central treasury cash management tendering for commercial banks in 2012. The scale is 30 billion yuan, with a term of 6 months, and the winning rate is 6.80%. The winning rate is up to 80 basis points.

The interest rate of the treasury cash deposit and the successful interest rate also showed that the market liquidity was not loose.

In addition, the time is at the end of the month.

As next Wednesday will enter March, it is widely expected that this is the earliest time for the issuance of central bank tickets.

But in the first quarter of the policy level, we need to pre adjust the policy and adjust the financial situation.

Experts predict that there will still be room for future deposit rate, and economic growth.