(Yicai Global) Oct. 09 -- China's central bank, the People's Bank of China (PBOC), withdrew CNY180 billion (USD27.3 billion) from the financial system through maturing reverse repurchases today.
PBOC halted all reverse repos today, but previous reverse repos of CNY180 billion matured on Monday.
The liquidity in the interbank market is adequate to absorb the effects of maturing reverse repos, PBOC said and thus it will halt open market operations today.
The overnight Shanghai Interbank Offered Rate (SHIBOR) dropped 19.80 basis points to 2.7400 percent. The one-week term rate decreased 4.07 basis points to 2.9201 percent. The SHIBOR for 3-month loans edged down 0.63 basis points to 4.3502 percent.