据中国人民银行4月2日发布的公开市场操作公告显示，采用固定利率、数量拍卖方式开展了5亿元7天期逆回购操作。同时，公告还补充了以下声明：“我们完全满足原卖家的需求”，成功报价利率维持1.4%不变。此次操作也是中国人民银行连续两个工作日进行5亿元土地回购操作的当天。土地成交量反映出市场机构对央行融资需求的下降。记者从部分金融机构获悉，央行3月底加大投资力度，保障季度资金。加之费用集中在季末，4月初资金面依然疲软。大多数金融机构没有向监管机构报告其资金需求central bank in the last two days to manage their own liquidity.专家表示，4月2日的声明“一级交易商的需求得到充分满足”，表明央行交易量增加并不意味着流动性紧张，适度宽松的货币政策方向没有改变。 At the same time, overnight interest rates in the money market remain at low levels.今年前两个月，央行通过逆回购、中期借贷便利（MLF）等方式投放中长期资金约2万亿元，为今年经济“开门红”创造了良好的货币金融环境。 After the Lunar New Year holiday, residents gradually deposited cash into banks, which continued to ease market liquidity.数据显示，3月份DR001货币市场隔夜平均利率在1.31%左右，较1、2月份的低位继续下滑。四月初伊尔，隔夜市场利率进一步跌破1.3%，金融机构贷款需求大幅下降。央行多次告诉市场，无需过多关注央行工具量。 Experts say that as of April 1, the seven-day reverse purchase operation on the open market was only 500 million yuan, and the net withdrawal amount was 78 billion yuan, but the lack of funds did not stop.事实上，银行体系的流动性受到财政资金和流通现金变化的影响。为了保持流动性充裕，央行必须灵活开展各种操作来防范上述因素。 “To observe the liquidity situation, we should not only focus on the changes of a single influencing factor, but should comprehensively combine the quantitative effects of various factors. From this perspective, it is more appropriate to observe changes in prices, that is, the level of short-term interest rates, than changes in quantity. According to the above-mentioned experts, People’s Bank of China Deputy Governor Zou Lan stated at a press conference in January that the goal of open market operations is to bring closer the overnight interest rates at the level of official rates The recent land volume operation in the open market is a manifestation of the more flexible and pr operation.cise of the central bank, and is also the correct meaning of the transition to a price-based regulation of monetary policy.
（编者：徐子立）