(Yicai Global) Nov. 20 -- China's central bank skipped open market operations today, leaving liquidity in the monetary system unchanged as no previous reverse repos are due to mature.

"Liquidity in the monetary system is already reasonably ample," the People's Bank of China said in a statement explaining the decision.

PBOC has injected a total CNY300 billion (USD43 billion) worth of liquidity into the financial system via seven-day reverse repos this week, after avoiding using the financial tool for 15 straight days. The central bank also cut the rate for the reverse repos by 5 basis points, the first reduction in more than four years.

During the 15 days it skipped reverse repos, the bank did conduct two medium-term lending facilities, adding cash specifically for regional commercial banks to lend to businesses in small cities and rural areas. The bank had unexpectedly cut rates for one-year MLFs by 5 basis points on Nov. 5.

Editor: James Boynton