For the week, the People's Bank of China (PBOC) will have drained a net 160 billion yuan ($25.45 billion) from the money market, compared with a net drain of 320 billion yuan a week earlier.

The PBOC increased the rate on 7-day reverse repurchase agreements by 5 basis points (bps) to 2.55 percent last Thursday, following the US Federal Reserve Bank's move.

China's central bank drained 65 billion yuan on a net basis from money markets in 2017.

 

 

Copyright Reuters, 2018