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

BUSINESS

China's central bank skips reverse repos for 9th straight trading day

Xinhua

12:58, July 09, 2020

The People's Bank of China. (Photo: Sipa)

BEIJING - The People's Bank of China (PBOC), the country's central bank, skipped open market operations via reverse repos for the ninth consecutive trading day on Thursday.

The banking system reports reasonable and sufficient liquidity at present, the PBOC said in an online statement.

No reverse repos matured 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.

China will pursue a prudent monetary policy in a more flexible and appropriate way, according to this year's government work report.

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