April 4, 2018 / 1:35 AM / 8 months ago

China's central bank says will skip open market operations

FILE PHOTO: A Chinese national flag flutters at the headquarters of a commercial bank on a financial street in central Beijing, China November 24, 2014. REUTERS/Kim Kyung-Hoon/File Photo

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

On a net basis, the People’s Bank of China (PBOC) will neither inject nor drain any funds from the market for the day as there are no reverse repos set to expire on Wednesday.

The PBOC drained a net 160 billion yuan ($25.44 billion) from the money market last week.

($1 = 6.2881 Chinese yuan)

Reporting by the Shanghai Newsroom; Editing by Jacqueline Wong

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