China's central bank skips reverse repos Friday

Source: Xinhua | 2020-02-07

The People's Bank of China (PBOC), the country's central bank, continued to skip reverse repos Friday.

The ample liquidity can "fully meet the market demand," the PBOC said on its website.

The central bank injected 1.7 trillion yuan through reverse repos into the market earlier this week, demonstrating its determination to stabilize market expectations and boost market confidence.

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.

The country will continue to implement a proactive fiscal policy and prudent monetary policy, according to the annual Central Economic Work Conference held in December.