BUSINESS China's central bank skips reverse repos for 11th day

BUSINESS

China's central bank skips reverse repos for 11th day

Xinhua

11:13, July 08, 2019

BEIJING, July 8 (Xinhua) -- China's central bank on Monday suspended pumping cash into the banking system through reverse repos for an eleventh working day.

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(Photo: VCG)

The People's Bank of China, the central bank, announced the decision in a terse statement on its website, saying the liquidity in the banking system was "at a relatively high level."

No reverse repos became mature on Monday.

A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

China will keep its prudent monetary policy "neither too tight nor too loose" while maintaining market liquidity at a reasonably ample level in 2019. 

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