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China's central bank skips open market operations for 29 trading days

Xinhua | Updated: 2018-12-05 13:23

Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, Oct 8, 2018. [Photo/IC]

BEIJING - The People's Bank of China, the central bank, on Wednesday skipped open market operations for the 29th trading day, the longest stretch since early 2016, citing sufficient liquidity in the banking system.

No reverse repo will mature Wednesday.

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 has decided to maintain a prudent and neutral monetary policy in 2018.

The country vowed to maintain control over the floodgates of monetary supply and keep liquidity at a reasonable and ample level, according to a statement issued after a meeting of the Political Bureau of the Communist Party of China Central Committee in July.

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