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PBOC continues to skip reverse repo operations

The People's Bank of China, the central bank, continued to stay away from the money market by skipping yet another reverse repo on Wednesday, marking the 34th straight day of zero cash injections. The PBOC said in an online statement that liquidity in the interbank market remained at a "reasonable and sufficient" level. A reverse repo is a liquidity-injection process in which the central bank purchases securities from commercial banks via bids, with an agreement to sell them back in the future.

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