Aug 03, 2022 03:20 AM

ECONOMY

China in Longest Streak of Liquidity Withdrawals Since February

The People’s Bank of China (PBOC) withdrew a net 3 billion yuan ($442 million) in open market operations Tuesday

The People’s Bank of China (PBOC) withdrew a net 3 billion yuan ($442 million) in open market operations Tuesday

(Bloomberg) — China’s central bank drained cash from the banking system for a seventh straight day as market rates plummeted amid ample liquidity.

The People’s Bank of China (PBOC) withdrew a net 3 billion yuan ($442 million) in open market operations Tuesday, draining a total of 18 billion yuan since July 25. That’s the longest period of net withdrawals since February in open market operations.

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