Chinese central bank, the People's Bank of China (PBOC), sold 50 billion yuan of 7-day reverse repos to grease money market Tuesday.
The amount, marking a new high since mid October, hinted an already in-shape net liquidity supply for local financial system as there are merely 30 billion yuan of reverse repos due this week.
As traders said the upsized Tuesday reverse repo resulted from the PBOC's willingness to stabilize market liquidity prospects even when resumption of initial public offerings (IPO) cast limited impact on local liquidity environment. In early trading session, China's interbank pledged bond repo rates mostly inched down over Monday, depicting unchanged calm in financial system.
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