April 10, 2017 / 4:40 AM / 3 months ago

PBOC to skip open market operations for the 11th straight session

1 Min Read

FILE PHOTO: A staff member walks in front of the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, June 25, 2013.Jason Lee/File Photo

SHANGHAI (Reuters) - China's central bank said it would skip open market operations on Monday, citing "relatively high" liquidity level in the banking system despite some impact from local government bond issuance.

It is the 11th consecutive session in which the People's Bank of China (PBOC) has abstained from open market operations.

"Although general liquidity level in the banking system is down a bit due to local government bond issuance, it is still at a relatively high level," PBOC said in a statement on its website.

($1 = 6.8955 Chinese yuan renminbi)

Reporting by the Shanghai newsroom; Editing by Shri Navaratnam

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