Central bank injects $18.7 billion into market CHEN JIA

The People's Bank of China injected 120 billion yuan ($18.7 billion) worth of seven-day reverse repurchase agreements, or short-term loans to commercial lenders, into the interbank market on Tuesday.

It was the largest single-day injection by the central bank since January 2014, when the PBOC offered 150 billion yuan via 14-day reverse repos. The interest rate remained the same at 2.5 percent.

Experts speculated that tightening liquidity in the market amid intensified capital outflows has forced the bank to increase money supply and stabilize the financial market.