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Key Points – Feb Report
Liquidity eased in February, helped by a boost to liquidity as China returned from the Lunar New Year holiday, the latest MNI Liquidity Conditions Index shows.
The Liquidity Condition Index stood at 10.0 in February, down from the 33.9 recorded in November. The higher the index reading, the tighter liquidity appears to survey participants.
- The Economy Condition Index stood at 36.7, the highest level since June, as Beijing policy mix seen helping the slower economy.
- The PBOC Policy Bias Index remained below 50 for an 8 th consecutive month.
- The Guidance Clarity Index was little changed, as respondents again claim to understand the signals from the PBOC.
The MNI survey collected the opinions of 30 traders with financial institutions operating in China's interbank market, the country's main platform for trading fixed-income and currency instruments, and the main funding source for financial institutions. Interviews were conducted December 6 – 17.
