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Central bank injects liquidity

The central bank injected cash into the money market through a variety of tools on Wednesday to ease liquidity. The People's Bank of China conducted 110 billion yuan ($15.93 billion) of reverse repos, a process by which central banks purchase securities from banks with an agreement to sell them back in the future. The operations included 90 billion yuan of seven-day reverse repo priced to yield 2.45 percent; 10 billion yuan of 14-day contracts with a yield of 2.6 percent; and 10 billion yuan of 28-day agreements with a yield of 2.75 percent. It was the first cash injection by the PBOC via reverse repos after a three-business day suspension.

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