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Central bank injects liquidity into market

The People's Bank of China, the nation's central bank, on Monday pumped liquidity into the financial system through open market operations. The PBOC conducted 150 billion yuan ($21.76 billion) of a 14-day reverse repo, a liquidity-injecting process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future. The interest rate for the operation stood at 2.7 percent. A total of 30 billion yuan of reverse repos matured on Monday, leading to a net liquidity injection of 120 billion yuan.

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