SHANGHAI: China's central bank drained short-term liquidity from the banking system for the first time in eight days on Monday, as bond markets recovered from a recent sharp selloff.
The People's Bank of China (PBOC) injected 3 billion yuan ($418.96 million) through seven-day reverse repurchase agreements in open market operations on Monday. With 5 billion yuan worth of such loans maturing on the same day, it resulted a net withdrawal of 2 billion yuan.
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