PBC skips open market operations

By Global Times – Xinhua Source:Global Times - Xinhua Published: 2018/8/9 20:23:41

The People's Bank of China (PBC), the country's central bank, has suspended open market operations for 15 trading days in a row, citing abundant liquidity in the financial system.

Liquidity in the banking system is at a "relatively high" level, which can offset the impact stemming from factors such as repaying local debts, the PBC said Thursday on its website, adding that no reverse repos will mature. A reverse repo is a process when the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back.

Posted in: MARKETS

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