CHINA China's central bank skips open market operations for 9th day

CHINA

China's central bank skips open market operations for 9th day

Xinhua

11:06, November 07, 2019

BEIJING, Nov. 7 (Xinhua) -- China's central bank continued to skip open market operations via reverse repos on Thursday, citing abundant liquidity in the banking system.

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File photo: VCG

The system reports a relatively high level of liquidity at present, the People's Bank of China said in an online statement.

No reverse repos became 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.

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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