[The central bank uses multiple tools to protect liquidity, and funding is expected to remain stable in October] October 9th, yesterday, the central bank launched 606 billion yuan of overnight reverse repurchase and 1.2 trillion yuan of 3-month buyout reverse repurchase operations. Taking into account the maturity of various instruments on that day, the total net withdrawal from the open market was 408.5 billion yuan. Industry insiders believe that factors such as cash flow back after the National Day holiday and early fiscal expenditures are expected to support funding in the first half of October; in the middle and late October, attention should be paid to the disruption caused by tax payments, cross-month and the expiration of medium- and long-term liquidity instruments. As the central bank's liquidity management becomes more flexible, funding is expected to remain generally stable, but banks' demand for medium- and long-term funding still deserves attention. (Shanghai Securities News)