PBOC to skip open market operations for the 11th straight session

China`s central bank said it would skip open market operations on Monday, citing "relatively high" liquidity level in the banking system despite some impact from local government bond issuance.

SHANGHAI: China`s central bank said it would skip open market operations on Monday, citing "relatively high" liquidity level in the banking system despite some impact from local government bond issuance.

It is the 11th consecutive session in which the People`s Bank of China (PBOC) has abstained from open market operations.

"Although general liquidity level in the banking system is down a bit due to local government bond issuance, it is still at a relatively high level," PBOC said in a statement on its website.