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Central bank injects 10b yuan into market

The central bank on Thursday pumped more money into the market for the fourth consecutive day. The People's Bank of China put 30 billion yuan ($4.49 billion) into seven-day reverse repos, a process by which central banks purchase securities from banks with an agreement to sell them back in the future. The reverse repos were priced to yield at 2.25 percent, unchanged from the previous operation, according to the statement. Reverse repos worth 20 billion yuan matured on Thursday, so the central bank has effectively pumped 10 billion yuan into the market.

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