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China's central bank skips reverse repos

Xinhua News,BEIJING
2020-10-10 10:05

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BEIJING, Oct. 10 (Xinhua) -- The People's Bank of China (PBOC), the country's central bank, skipped open market operations via reverse repos Saturday.

The banking system reports relatively high liquidity at present, the PBOC said in an online statement.

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 pursue a prudent monetary policy in a more flexible and appropriate way, according to this year's government work report.
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