BEIJING, Nov. 5, 2009 (Xinhua News Agency) -- A 66 billion yuan three-month bill issuance and an 80 billion 91-day repurchase by China's central bank on Thursday added to its net cash withdrawal this week to reach 123 billion yuan, according to publicized data.

The People's Bank of China (OOTC:BACHY) (PBoC), the central bank, sold an overall 208 billion yuan worth of bills and repos, while those to mature this week hit 85 billion yuan.

Both the Tuesday one-year bill and Thursday three-month bill yields remained unchanged at 1.7605 percent and 1.3280 percent, respectively.

The results were well within forecasts since the flat one-year bill yield was meant to maintain open market operation rates stable by the PBoC, said market involvers.

An unnamed fixed-income analyst with a Beijing-based broker noted that rises in the open market operation yields were inevitable, while some economic indicators would serve as catalysts for upward movement.

Chen Lan, a bond strategist with Guotai & Junan Securities, timed the rises as before yearend, saying that any overrun in credit, consumption, and GDP figures would spur a yield increase.