The People's Bank of China, China's central bank, conducted 90 billion yuan of 7-day reverse repos, 40 billion yuan of 14-day reverse repos and 40 billion yuan of 28-day reverse repos on Wednesday.
Given that about 110 billion of reverse repos and 60 billion yuan of Treasury cash deposits were due on Wednesday, the central bank neither drained nor injected funds into the financial system through open market operation on Wednesday.
UBS economist Guo Haozhuang noted that the central bank was expected to keep its monetary policy tightly balanced in the future.
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