MLF、隔夜逆回购双箭齐发,如何理解央行“缩长增短”操作意图?

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一边适度回笼中期流动性,一边加码短期工具对冲月末资金缺口,央行“缩长增短”的操作组合引发关注。   8月24日,央行连发公告,预告了公开市场操作的组合变化。一是MLF(中期借贷便利)迎来近4个月首次缩量续作,二是提前预告月末多轮隔夜逆回购操作、设置单日6000亿元操作上限。   综合市场专家分析来看,MLF净回笼并非货币政策收紧信号,而是在银行体系总量流动性充裕但短期结构性压力凸显背景下的精细化...

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