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PBOC makes $2.46b cash injection via repo

The People's Bank of China, the central bank, on Thursday injected funds into the market through a reverse repurchase agreement to meet cash demand. The PBOC pumped 15 billion yuan ($2.46 billion) into the money market through a seven-day reverse repo, a process in which the central bank purchases securities from banks with an agreement to resell them at a future date. Last week, the market gained 5 billion yuan in net money supply. The central bank usually carries out such operations on Tuesday and Thursday morning each week.