央行重回净回笼资金格局 打消短期降准预期
关键字：降准
随着月初资金资金面恢复平稳，央行结束了此前连续11周的净投放资金，改为回笼市场流动性。这显示出央行对银行体系资金充裕的判断，打消了市场对短期内的降准预期。
参与投标的交易员周四透露，中国央行早间进行了人民币100亿元14天期逆回购操作，规模较上周减少逾六成。
考虑到本周二央行实施了100亿元7天逆回购，以及资金缺口的情况，本周央行净回笼资金为370亿元，结束了此前连续十一周公开市场净投放资金态势。
本周公开市场到期央票180亿元，到期逆回购750亿元，资金缺口为570亿元。
一驻上海的银行交易员称，“8月末各家银行冲存款规模还是比较猛的，这使得今日银行体系存在一定的缴准压力。央行此时缩小逆回购的滚动发行规模，并采取净回笼操作，凸显其继续维持紧平衡以及要求银行加强流动性管理的态度。”
联讯证券固定收益高级分析师杨为?认为，外汇占款8月可能重新出现
流入的局面，这对资金供给有极大的补充作用，也弥补了短期公开市场到期资金不足的负面影响。
他认为，在资金结构不发生显著变化的情况下，外汇占款或将是后期资金面的主导因素，而央行公开市场操作形成反向对冲作用，9月的外汇占款仍是关键，从之前的资金利率和汇率走势来看，9月的外汇占款可能再回较弱区间，大概率是负增长，如果是正增长，也不会超过300亿。另外加上季末效应，这或将使得9月的资金利率比8月略高。
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本文来源： 大田环球贵金属
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