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China skips open market operations

Updated: Aug 22,2018 1:47 PM     Xinhua

BEIJING — China’s central bank suspended open market operations on Aug 22 to maintain reasonable and ample liquidity in the financial system.

“Near the end of the month, gradual fiscal expenditures can offset the impact from factors including payment for newly-issued government bonds,” the People’s Bank of China (PBOC) said on its website.

Previously, the central bank had pumped money through open market operations for four trading days in a row.

The PBOC will make policies more forward-looking, flexible and effective, maintain proper control over the floodgate of money supply and keep liquidity at a reasonable and abundant level, according to a quarterly report released earlier this month.

China’s prudent monetary policy will be “kept neutral and be neither too tight nor too loose,” said the report.

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