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PBOC skips open market operations for longest streak since 2016

The People's Bank of China skipped open market operations for the 21st straight day on Friday, the longest streak since the central bank began to conduct the operations on a daily basis in February 2016. If the "quietness" continues to the end the month, it would be the first no-money-injection month since May 2015.

Some analysts have noticed evidence that the central bank actually drained liquidity from the market in unannounced repurchase operation in October. Many believe that everything is pointing to that the PBOC doesn't want liquidity too loose, which is especially important for keeping the yuan stable before the G20 summit at the end of November.

 

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