January 9, 2018 / 1:20 AM / a year ago

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

FILE PHOTO: A woman walks past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China June 21, 2013. REUTERS/Jason Lee/File Photo

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

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