China's central bank skips reverse repos Wednesday

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

The banking system reports reasonable and sufficient liquidity at present, the PBOC said in an online statement.

As no reverse repos matured Wednesday, there is no net liquidity withdrawal from or net liquidity injection into 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.