China’s central bank says will skip OMOs on Monday

SHANGHAI (Reuters) – China’s central bank said it will skip open market operations on Monday.

On a net basis, the People’s Bank of China (PBOC) will drain 120 billion yuan ($18.25 billion) from the money market for the day, as that amount of reverse repos is due to mature on Monday.

The PBOC injected a net 200 billion yuan into the money market last week.