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