China's central bank skips reverse repos Thursday

BEIJING - The People's Bank of China (PBOC), the country's central bank, continued to skip open market operations via reverse repos on Thursday, citing reasonably sufficient liquidity in the banking system.

"The relatively high liquidity level in the banking system can offset the impact from factors including issuance of government bonds and maturing reverse repos," the PBOC said on its website.

No reverse repos matured Thursday.

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.