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China central bank to skip open market operations on Thursday

[SHANGHAI] China's central bank said it will skip open market operations on Thursday, as liquidity in the banking system was"appropriate".

The People's Bank of China said in an online statement that it would auction 80 billion yuan (S$16.35 billion) of three-month deposits to commercial banks on Aug 24.

Maturing reverse repos will drain a net 10 billion yuan from the market for the day.

The PBOC injected a net 110 billion yuan last week via open market operations.

REUTERS

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