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PBOC To Remain Flexible In Its Open Market Operations

CHINA PRESS
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The People’s Bank of China drained liquidity from the interbank market after Chinese New Year to mop up a big injection it made before the holiday, but analysts predict the central bank will remain flexible in its open market operations and keep liquidity ample amid the economic recovery in a bid to reduce funding costs, China Securities Journal reported Tuesday. The PBOC drained a net CNY1.44 trillion in the past 8 trading days to prevent the excess liquidity flooding the market as the bank injected a net CNY2.05 trillion in the week before the new year, marking the largest weekly injection in history, the report pointed out.

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The People’s Bank of China drained liquidity from the interbank market after Chinese New Year to mop up a big injection it made before the holiday, but analysts predict the central bank will remain flexible in its open market operations and keep liquidity ample amid the economic recovery in a bid to reduce funding costs, China Securities Journal reported Tuesday. The PBOC drained a net CNY1.44 trillion in the past 8 trading days to prevent the excess liquidity flooding the market as the bank injected a net CNY2.05 trillion in the week before the new year, marking the largest weekly injection in history, the report pointed out.