PBOC drains CNY 770 bn this week, skips OMOs today

The People’s Bank of China (PBOC) said in a statement on Friday, it drained net 770bn Yuan this week. Meanwhile, it drained CNY 10bn today, with a fifth straight day of no RRs.

The Chinese central bank skipped the open market operations (OMOs) today, citing that the banking liquidity remains at a relatively high level.