PBOC drains net CNY 60 bn via OMOs this week

PBOC drains a net CNY 60 bn via Open Market Operations (OMOs) this week versus a net injection of CNY 410 bln seen last week, which marked the largest injection since mid-January this year.

Meanwhile, the Central bank skipped OMOs today, and gauged demand for 7, 14 & 28 day reverse repos.

PBOC said in a statement: “Liquidity levels in the banking system are relatively high due to high fiscal expenditure at month-end.”