China's central bank skips reverse repos Thursday

BEIJING - The People's Bank of China (PBOC), the country's central bank, skipped open market operations via reverse repos on Thursday.

The PBOC announced the move in a statement on its website, citing reasonably sufficient liquidity in the banking system.

No reverse repos matured Thursday.

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 vowed to keep its prudent monetary policy "neither too tight nor too loose" while maintaining market liquidity at a reasonably ample level in 2019.