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Bank pumps more money into market

China's central bank on Wednesday pumped more money into the market to ease liquidity ahead of the Dragon Boat Festival holiday on May 30. The People's Bank of China conducted 40 billion yuan ($5.8 billion) of seven-day reverse repos, priced to yield 2.45 percent, unchanged from Tuesday's injection of 80 billion yuan, according to a PBOC statement. The bank also conducted 50 billion yuan of 14-day reverse repos, priced at 2.6 percent.