April 10, 2018 / 1:27 AM / 2 years ago

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

FILE PHOTO: A Chinese national flag flutters outside the headquarters of the People's Bank of China, the Chinese central bank, in Beijing, China April 3, 2014. B REUTERS/Petar Kujundzic/File Photo

SHANGHAI (Reuters) - China’s central bank said it will skip open market operations on Tuesday as liquidity levels in the banking system were “relatively high”.

On a net basis, the People’s Bank of China (PBOC) will drain 30 billion yuan ($4.76 billion) from the market for the day as the same amount in reverse repos is due to expire on Tuesday.

The PBOC drained a net 10 billion yuan from the money market last week.

Reporting by the Shanghai Newsroom

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