China's central bank skips open market operations Friday

Source: Xinhua| 2019-11-08 10:19:02|Editor: Xiang Bo
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BEIJING, Nov. 8 (Xinhua) -- China's central bank skipped open market operations via reverse repos on Friday, citing abundant liquidity in the banking system.

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 Friday.

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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