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SHANGHAI: China's central bank said it will skip open market operations on Monday as liquidity levels in the banking system were "reasonable and appropriate".

On a net basis, the People's Bank of China (PBOC) will drain 70 billion yuan ($11.09 billion) from the market for the day as the same amount in reverse repos is due to mature on Monday.

The PBOC drained a net 320 billion yuan from the money market last week.

 

Copyright Reuters, 2018

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