China's central bank skips reverse repos for 13th day

BEIJING, July 10 (Xinhua) -- The People's Bank of China, the country's central bank, skipped reverse repos for a 13th working day on Wednesday, citing reasonably adequate liquidity in the banking system.

Reverse repos worth 20 billion yuan matured on Wednesday.

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.