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China: Central bank skips open market operations Friday

China: Central bank skips open market operations Friday

India Blooms News Service | @indiablooms | 31 May 2019, 11:06 am

Beijing, May 31 (Xinhua) China's central bank skipped open market operations on Friday, citing abundant liquidity in the banking system.

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

No reverse repos matured on Friday.

Net liquidity injection amounted to 430 billion yuan (about 62.33 billion US dollars) this week, the largest such operation in a week in the last four months.

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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