China's central bank injects cash into financial system

Note: This section contains information in English only.
Source: Marketwatch
For the first time in ten weeks the People's Bank of China offered 35 billion yuan or $5.6 billion worth of reverse repos to commercial lenders in order to drive money market rates lower. On Thursday, the Chinese central bank auctioned surplus repurchase agreements at a 2.7% interest. According to analysts, PBOC wishes to see the short-term interest rates at around 2% from the 3.08% level as of Wednesday.
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