Shanghai Securities News: The central bank further safeguards liquidity, and the funding environment will return to a slightly loose balance.

Recently, the central bank has continued to increase open market operations. On May 25, the central bank conducted a 258 billion yuan 7-day reverse repurchase operation, with a net injection of 357 billion yuan in a single day. However, the liquidity has not significantly loosened, with the DR007 rate rising to 1.4038% in early trading. Several institutional experts believe that factors such as tax payments, month-end, expiry of mid-term lending facility, and government bond net payments have collectively led to increased short-term disturbances in the liquidity. However, the central bank has a clear attitude of safeguarding, with a low probability of significantly tightening liquidity. The liquidity may return from the previous "super loose" to a state of "relatively loose balance."