China’s central bank skips open market operations Thursday


BEIJING, May 23 (Xinhua) — China’s central bank skipped open market operations on Thursday, citing abundant liquidity in the banking system.

The People’s Bank of China said liquidity has been at a reasonably sufficient level.

No reverse repo is due 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 will 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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