BEIJING, April 11 (Xinhua)-- China's central bank continued to skip open market operations Thursday for the 16th consecutive trading day.
The People's Bank of China (PBOC) said liquidity has been at a reasonably sufficient level, a minute change in wording compared to the previous-day announcement which said liquidity had been "at a relatively high level."
No reverse repo is due on Thursday.
Money market rates rose Thursday across the board. The overnight Shanghai Interbank Offered Rate (Shibor) increased 45.7 basis points to 2.735 percent, a new high since March 19.
The seven-day Shibor rose 0.3 basis points to 2.657 percent, while the two-week rate was up 21.3 basis points to 2.779 percent. The one-month Shibor increased 1.4 basis points to 2.669 percent, with the three-month rate up 0.5 basis points to 2.76 percent
Citing market participants, China Securities Journal said liquidity may face a tightening pressure next week. If liquidity deviates from a reasonably sufficient level, the central bank may reinject liquidity, according to the newspaper.
