SHANGHAI (Reuters) - China’s central bank said it will skip open market operations for the 11th straight trading day on Monday as liquidity levels in the banking system were “relatively high”.
On a net basis, the People’s Bank of China (PBOC) will drain 40 billion yuan ($6.17 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 510 billion yuan from the money market last week.
China’s central bank drained 65 billion yuan on a net basis from money markets in 2017.
Reporting by the Shanghai Newsroom; Editing by Sam Holmes