China's central bank says it will skip OMOs on Monday

[SHANGHAI] China's central bank said it will skip open market operations (OMOs) for the third straight trading day on Monday as liquidity levels in the banking system were "appropriate and stable".

On a net basis, the People's Bank of China (PBOC) will drain 140 billion yuan (S$29 billion) from the money market for the day, equal to the amount of reverse repos due to mature on Monday.

The PBOC drained a net 320 billion yuan from the money market last week.

REUTERS