PBOC skips open mar­ket op­er­a­tions

China Daily (Canada) - - SHANGHAI -

The Peo­ple’s Bank of China, the na­tion’s cen­tral bank, skipped open mar­ket op­er­a­tions for the 29th con­sec­u­tive trad­ing day on Wed­nes­day, the long­est stretch since early 2016, cit­ing suf­fi­cient liq­uid­ity in the bank­ing sys­tem. No re­verse re­pos will ma­ture on 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.

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