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PBOC skips open market operations for the 1st time in June

Updated: Jun 24,2019 1:43 PM     Xinhua

BEIJING — China’s central bank skipped open market operations on June 23, the first time this month, citing abundant liquidity in the banking system.

The People’s Bank of China (PBOC) said liquidity is staying at a reasonable and sufficient level at present.

No reverse repos became mature on June 24.

The PBOC has injected liquidity of 1.565 trillion yuan (about $228.46 billion) into the market in June, with the net injection standing at 107 billion yuan.

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.