China's central bank drains 91 bln yuan this week
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China's central bank carried out its regular open market operations Thursday, drawing 91 billion yuan (13.37 billion U.S. dollars) of liquidity from the money market this week.
The liquidity tightening this week came after the People's Bank of China (PBOC), the central bank, pumped 41 billion yuan (6.04 billion U.S. dollars) into the money market last week.
In its open market operations Thursday, the PBOC sold 80 billion yuan (11.76 billion U.S. dollars) of three-year bills at a yield of 2.65 percent, while it issued three-month bills worth 17 billion yuan (2.5 billion U.S. dollars) with a yield of 1.5704 percent.
On Thursday, the PBOC also conducted 91-day repurchase agreement operations at a yield of 1.57 percent, taking 30 billion (4.41 billion U.S. dollars) out of the money market.
The central bank drained another 24 billion yuan (3.53 billion U.S. dollars) through three-month bills sold on Tuesday.
Offsetting 60 billion yuan (8.82 billion U.S. dollars) of bills and repurchase agreements that matured this week, the PBOC realized a net liquidity tightening of 91 billion yuan this week.
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