China's central bank injects 120bil yuan into market

BEIJING (Xinhua): China's central bank on Monday (June 22) pumped cash into the banking system via reverse repos to maintain liquidity.

The People's Bank of China injected a total of 120 billion yuan (US$16.93 billion) into the market, including 40 billion yuan through seven-day reverse repos at an interest rate of 2.2 per cent and 80 billion yuan of 14-day contract at an interest rate of 2.35 per cent, according to a statement on the website of the central bank.