Chinese central bank drains money from market.
Global Banking News-September 25, 2017--Chinese central bank drains money from market
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Global Banking News - 25 September 2017
The Chinese central bank has said that it has drained money from the market.
Figures show that the central bank drained CNY80bn from the financial system through open market operations on Monday. The People's Bank of China injected CNY200bn through reverse repos, while CNY280bn of contracts matured, which equates to a net withdrawal of CNY80bn.
The Chinese central bank has increasingly relied on open market operations for liquidity management rather than cuts in interest rates or reserve requirement ratios.
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