Date
22 August 2017

PBoC drains 29 bln yuan of liquidity this week, paper says

The People’s Bank of China drained 29 billion yuan (US$4.75 billion) from the market this week after sustained halts of reverse repurchases, the Securities Times reported Friday. The central bank’s move to stop open-market operations for the whole week shows its position of maintaining moderately tight liquidity, the paper said. CITIC Securities was quoted as saying that liquidity is not likely to ease in January, but it is expected to improve later as year-end factors wane and fiscal deposits are injected, it said.

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