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PBOC to skip open market operations for the 10th straight session

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China's central bank said it would skip open market operations on Friday, citing "relatively high" liquidity levels in the banking system.

[SHANGHAI] China's central bank said it would skip open market operations on Friday, citing "relatively high" liquidity levels in the banking system.

It is the tenth consecutive session in which the People's Bank of China (PBOC) has abstained from open market operations.

For the week, there would be a net drain of 100 billion yuan (S$20.3 billion) from the interbank market as reverse repos mature, compared with a net drain of 290 billion yuan last week.

"Currently, overall liquidity level in the banking system is relatively high," PBOC said in a statement on its website.

China's financial markets resumed trading on Wednesday after closing Monday and Tuesday for the Tomb-Sweeping festival.

REUTERS

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