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China's central bank skips reverse repos for 5th day

Xinhua | Updated: 2019-10-10 13:58

An employee counts yuan banknotes at a branch of China Everbright Bank in Xi'an, Shaanxi province, Feb 21, 2017. [Photo/VCG]

BEIJING - China's central bank skipped open market operations for the fifth day in a row on Thursday, citing abundant liquidity on the market.

The People's Bank of China did not conduct any operation of reverse repos, a liquidity-injecting process in which the central bank purchases securities from commercial banks through bidding with an agreement to sell them back in the future.

Meanwhile, 20 billion yuan ($2.83 billion) of reverse repos matured Thursday, resulting in a net liquidity withdrawal of 20 billion yuan, according to financial information service provider Wind Info.

China vowed to 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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