China central bank will continue to skip open market operations

BEIJING, Feb 11 (Reuters): China's central bank said it will continue to skip open market operations for the 13th straight trading day today.

The People's Bank of China (PBOC) said it will skip open market operations on Sunday to maintain stable liquidity in the banking system.

It said Contingent Reserve Arrangement and fiscal expenditure provided liquidity ahead of China's Spring Festival.

The PBOC drained a net 760 billion yuan (US $120.7 billion) from the money market last week.