BUSINESS China central bank skips reverse repos Thursday

BUSINESS

China central bank skips reverse repos Thursday

Xinhua

10:00, January 09, 2020

BEIJING, Jan. 9 (Xinhua) -- The People's Bank of China (PBOC), the country's central bank, continued to skip reverse repos Thursday.

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File photo: VCG

The banking system reports a relatively high level of liquidity at present, the PBOC said on its website.

No reverse repo became mature Thursday.

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 this month.

The quality and effect of the fiscal policy must be enhanced with more efforts on structural adjustment, while the monetary policy should be pursued with moderate flexibility to maintain market liquidity at a reasonably ample level, said the statement released after the conference.

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