PBOC drains a net 290 bln Yuan this week via OMOs

China’s central bank, the PBOC drains a net 290 bln Yuan from the market for the week via Open Market Operations (OMOs), versus a net injection of 80 bln Yuan a week ago, Reuters reports.

Meanwhile, the PBOC skipped OMOs on Friday, although gauged demand for 7, 14 & 28 day reverse repos.