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PBOC skips open market operations

The People's Bank of China, the central bank, suspended open market operations for the 24th consecutive trading day on Wednesday, citing increased liquidity due to more expenditure at the end of the month. No reverse repos are expected to mature this week. A reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future. The central bank will maintain a prudent and neutral monetary policy, easing or tightening only as appropriate, and make the financial sector better serve the real economy, according to a report published by the bank in early November.

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