China's central bank skips open market operations
BEIJING - The People's Bank of China, the country's central bank, skipped open market operations Monday to maintain stable liquidity in the banking system.
The People's Bank of China (PBOC) said liquidity has been at a reasonably sufficient level.
The suspension came after injections of 20 billion yuan ($2.98 billion) and 80 billion yuan respectively, through seven-day reverse repos by the central bank on Friday and Thursday.
No reverse repo is due on Monday.
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, according to the annual Central Economic Work Conference held last year.
