BUSINESS China's central bank skips open market operations for 20 days

BUSINESS

China's central bank skips open market operations for 20 days

Xinhua

11:00, November 22, 2018

BEIJING, Nov. 22 (Xinhua) -- The People's Bank of China (PBOC) suspended open market operations on Thursday, citing abundant liquidity in the financial system.

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(Photo: VCG)

It is the 20th consecutive working day for the central bank to skip open market operations, a record long time span since early 2016 when the central bank announced added frequency of open market operations.

No reverse repo will mature on Thursday.

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

The central bank will maintain a prudent and neutral monetary policy, with easing or tightening only as appropriate, and make the financial sector better serve the real economy, according to a report published by the bank in early November.


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