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PBOC injects cash into financial sector

China's central bank injected cash into the financial system using 14-day reverse-repurchase agreements for the first time since February, amid speculation that policy makers are looking to increase the use of more expensive, longer-term funding to cool a bond rally. The People's Bank of China auctioned 50 billion yuan ($7.5 billion) of the contracts in open-market operations at 2.4 percent on Wednesday, according to a statement on its website. PBOC also offered 90 billion yuan of seven-day reverse repos at 2.25 percent. Both rates were unchanged from previous sales.