December 27, 2017 / 1:25 AM / a month ago

China's central bank says will skip OMOs on Wednesday

SHANGHAI (Reuters) - China’s central bank said it will skip open market operations for the fourth straight trading day on Wednesday as liquidity in the banking system was “relatively high”.

On a net basis, the People’s Bank of China (PBOC) will drain 40 billion yuan ($6.11 billion) from the money market for the day, equal to the amount of reverse repos due to mature on Wednesday.

The PBOC injected a net 200 billion yuan into the money market last week.

($1 = 6.5429 Chinese yuan)

Reporting by the Shanghai Newsroom; Editing by Sam Holmes

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