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China's central bank skips reverse repos for 12th day

2019-07-09 10:31

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BEIJING, July 9 (Xinhua) -- The People's Bank of China, the country's central bank, skipped reverse repos for a 12th working day on Tuesday citing relatively high level of liquidity in the banking system. No reverse repos matured on Tuesday.

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.
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