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Central bank injects most cash since Sept

The People's Bank of China conducted the biggest reverse-repurchase operations since September, adding funds to the financial system after money market rates surged and equities slumped. The central bank offered 130 billion yuan ($19.9 billion) of seven-day reverse repos on Tuesday at an interest rate of 2.25 percent. The monetary authority suspended the operations in the last auction window on Dec 31, ending a six-month run of cash injections that helped drive borrowing costs lower in an economy estimated to grow at the slowest pace in more than two decades.