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China central bank to skip open market operations for 9th straight day

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China's central bank said it will skip open market operations for the ninth day in a row on Wednesday, as liquidity levels in the banking system were "relatively high".

[SHANGHAI] China's central bank said it will skip open market operations for the ninth day in a row on Wednesday, as liquidity levels in the banking system were "relatively high".

The People's Bank of China said in an online statement that the liquidity remained at relatively high levels after "countering reserves payment by financial institutions and maturing reverse repos".

Maturing reverse repos will drain a net 90 billion yuan (S$18.3 billion) from the market for the day.

The PBOC drained a net 330 billion yuan last week via open market operations.

REUTERS

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