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China's central bank skips reverse repos Tuesday

BEIJING
2020-01-14 10:31

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BEIJING, Jan. 14 (Xinhua) -- The People's Bank of China (PBOC), the country's central bank, continued to skip reverse repos Tuesday.

The banking system reports a relatively high level of liquidity at present, the PBOC said on its website.

No reverse repo became mature 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.

The country will continue to implement a proactive fiscal policy and prudent monetary policy, according to the annual Central Economic Work Conference held in December.

The quality and effect of the fiscal policy must be enhanced with more efforts on structural adjustment, while the monetary policy should be pursued with moderate flexibility to maintain market liquidity at a reasonably ample level, said the statement released after the conference.
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