China's central bank skips reverse repos Tuesday

BEIJING - The People's Bank of China, the country's central bank, continued to skip open market operations via reverse repos Tuesday, citing reasonably adequate liquidity in the banking system.

A reverse repo is a process in 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.