BUSINESS China's central bank skips reverse repos for 8th day

BUSINESS

China's central bank skips reverse repos for 8th day

Xinhua

11:43, July 03, 2019

BEIJING, July 3 (Xinhua) - The People's Bank of China (PBOC) skipped reverse repos for an eighth day in a row on Wednesday, citing relatively high level of liquidity in the banking system.

VCG11492280076.jpg

(File photo: VCG)

Reverse repos worth 40 billion yuan (about 5.8 billion US dollars) matured on Wednesday.

Through reverse repos, 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, according to the annual Central Economic Work Conference.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue