(Yicai Global) Jan. 13 -- The People's Bank of China narrowed the financial system's liquidity by CNY8 billion (USD1.2 billion) this morning via open market operations.
The regulator carried out CNY2 billion in seven-day reverse repos today against a maturing tally of CNY10 billion of similar short-term lending instruments.
The purpose of today’s operation is to keep the liquidity in the country’s banking system “reasonably ample,” the bank reiterated in a statement.
During the first three days of this week, the central bank has pulled CNY28 billion (USD4.3 billion) in liquidity out of its banking system via OMOs. Last week, it withdrew CNY505 billion (USD78.2 billion).
Editor: Emmi Laine