Policy

PBOC Skips OMOs For 8th Straight Day; Drains CNY90 Bln

Date 1/3/2018 3:00:27 PM

     BEIJING (MNI) - The People's Bank of China skipped its open-market operations Wednesday, saying the liquidity level in the banking system is at a ‚Äúrelatively high" level.

     This resulted in a net drain of CNY90 billion for the day, as a total ofCNY90 billion in reverse repos mature on Wednesday.

     Today is the eighth consecutive trading day that the PBOC skipped its open market operations.

     The CFETS-ICAP money-market sentiment index ended at 44 on Tuesday, down from 56 at Friday's close. The lower the reading the better the liquidity conditions in the interbank market.

     The benchmark seven-day repo average was last at 2.6526%, compared with 2.7655% on Tuesday.

Edited by SHMET