China's central bank skips open market operations

BEIJING - China's central bank skipped open market operations Friday to maintain stable liquidity in the banking system.

The People's Bank of China said liquidity has been at a relatively high level.

No reverse repo is due on Friday.

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, according to the annual Central Economic Work Conference held last year.