SHANGHAI (Reuters) - China’s central bank said it will skip open market operations for the 12th straight trading day on Tuesday as liquidity levels in the banking system were “appropriate”.
On a net basis, the People’s Bank of China (PBOC) will drain 130 billion yuan ($20.01 billion) from the money market for the day, equal to the amount of reverse repos due to mature on Tuesday.
The PBOC drained a net 510 billion yuan from the money market last week.
In 2017, the central bank drained 65 billion yuan on a net basis from money markets.
Reporting by the Shanghai Newsroom