BUSINESS China central bank skips reverse repos for 9th straight day

BUSINESS

China central bank skips reverse repos for 9th straight day

Xinhua

11:50, February 28, 2020

BEIJING, Feb. 28 (Xinhua) -- The People's Bank of China, the country's central bank, skipped open market operations via reverse repos for the ninth straight day on Friday, citing reasonable and sufficient liquidity at present.

No reverse repos matured Friday.

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File photo: VCG

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.

The country will continue to implement a proactive fiscal policy and prudent monetary policy, according to the annual Central Economic Work Conference held in December 2019.

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