China's central bank skips reverse repos Friday

BEIJING, Aug. 9 (Xinhua) -- The People's Bank of China, the country's central bank, continued to skip open market operations via reverse repos on Friday, citing reasonably sufficient liquidity in the banking system.

The central bank suspended reverse repos throughout the week ending Friday, and no reverse repos matured during the same period.

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 keep its prudent monetary policy "neither too tight nor too loose" while maintaining market liquidity at a reasonably ample level in 2019.