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China's central bank skips reverse repos

Published: October 17, 2019 13:56:46 | Updated: October 18, 2019 19:42:46


File Photo (Collected)

The People's Bank of China (PBOC), the central bank of the country, skipped open market operations via reverse repos on Thursday.

The PBOC announced the move in a statement on its website, citing reasonably sufficient liquidity in the banking system.

No reverse repos matured Thursday, reports Xinhua.

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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