BUSINESS China's central bank continues to skip reverse repos Monday

BUSINESS

China's central bank continues to skip reverse repos Monday

Xinhua

10:34, December 09, 2019

BEIJING, Dec. 9 (Xinhua) -- China's central bank skipped reverse repos on Monday, citing sufficient liquidity in the banking system.

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File photo by VCG

The banking system reports a reasonable and sufficient level of liquidity at present, the PBOC said in a statement.

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 vowed to 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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