In the week from April 11 to April 15, the average daily index of China's financial conditions of the first financial research institute was -1.17, down 0.18 from the previous week and up 0.03 during the year.
Loose capital last week was the main factor driving the index downward. Among the major money market interest rates, R001 fell to a low of 1.40%, R007 and dr007 fell to 1.87% and 1.73% respectively, both below the policy interest rate center.
Last week, the bond market issued a net repayment, and the financing heat was not high. Among them, the net repayment of government bonds was 160.09 billion yuan, and the net repayment of financial bonds and interbank certificates of deposit were 84.04 billion yuan and 28.16 billion yuan respectively.
On April 15, the people's Bank of China decided to reduce the deposit reserve ratio of financial institutions by 0.25 percentage points on April 25, 2022, releasing the signal of steady growth. After the reduction, the weighted average deposit reserve ratio of financial institutions was 8.1%, and the reduction released a total of about 530 billion yuan of long-term funds.
