Interest rates in focus amid the festival rush

After suspending reverse repos for a week, China's central bank resumed them on Jan 14 in the hope of injecting more liquidity to prepare for Spring Festival on Feb 5.

The People's Bank of China said on its website that it will conduct 80 billion yuan ($11.8 billion) of seven-day reverse repos at an interest rate of 2.55 percent. It will also conduct another 20 billion yuan of 28-day reverse repos at 2.85 percent.

Previous reverse repos worth 80 billion yuan matured on Jan 14, indicating that the net market injection came in at 20 billion yuan.