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$8.1b of 7-day repo agreements auctioned

China has injected more cash into the banking system, adding to a wave of monetary easing over the past week. The People's Bank of China auctioned 50 billion yuan ($8.1 billion) of seven-day reverse-repurchase agreements on Tuesday, according to a trader required to bid at the sales. The contracts were offered for the first time in two months. The central bank lowered benchmark interest rates on Saturday as well as some lenders' reserve requirements.