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