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China central bank to conduct open-market operations daily

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China's central bank said on Thursday it will conduct open market operations on a daily basis starting Jan 18.

[BEIJING] China's central bank said on Thursday it will conduct open market operations on a daily basis starting Jan 18.

Until now, the People's Bank of China (PBOC) has held open market operations generally twice a week. Conducting such operations daily could give it more flexibility in managing the amount of cash in the financial system.

Earlier, the bank had increased the frequency of such operations between Jan 29 and Feb 19 to maintain liquidity in the market during the Lunar New Year.

REUTERS

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