Cash injection halt continues

China’s central bank on Monday suspended open market operations for a seventh trading day in a row, citing a relatively high level of liquidity in the banking system. With 70 billion yuan ($10.3 billion) of reverse repos maturing on Monday, the same amount of cash was drained from the market by the People’s Bank of China. Altogether, 250 billion yuan of reverse repos will mature this week. Rising fiscal spending near the end of month offset maturing reverse repos, the PBOC said last week. In Monday’s interbank market,