The People's Bank of China had skipped open market operations for the past 12 days in succession. Back into it today
For OMOs today, the Bank:
- To inject 30 bn yuan through 7-day reverse repos
- To inject 10 bn yuan through 28-day reverse repos
Maturities of 40bn yuan today. The injection matching maturities so net no drain/injection.
The Bank had been skipping injections, various statements saying ample liquidity, or high liquidity. They had net drained 780bn yuan from the banking system over those 12 days by refraining from OMOs while maturities rolled off.
