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Central bank suspends reverse repos

China's central bank suspended open market operations for a third-straight trading day on Tuesday, in a further sign of policy tightening. The People's Bank of China withdrew 120 billion yuan ($17 billion) from the market on Tuesday, as 120 billion yuan of reverse repurchase agreements (repos) matured. Reverse repos is a process by which central banks purchase securities from banks with an agreement to sell them back in the future.