The People’s Bank of China refrained from engaging in open market operations for the 10th consecutive working day on Friday on the grounds that banking system liquidity remains at adequate levels.
In an official statement PBOC said that liquidity was at a “relatively high level,” despite a net withdrawal of 510 billion yuan (approx. USD$78.7) from he banking system last week due to the maturation of reverse repo agreements.
Towards the end of last year Chinese policy makers reiterated the need to maintain “prudent and neutral” monetary policy in 2018.
