China's central bank pumps 50b yuan into market

BEIJING - China's central bank on Wednesday boosted liquidity in the banking system by 50 billion yuan ($7.46 billion) through reverse repos.

The operation was made through 14-day reverse repos at an interest rate of 2.7 percent, the People's Bank of China (PBOC), the central bank, said on its website.

The PBOC said that it conducted the operation to maintain reasonable and sufficient liquidity in the banking system.

No reverse repos matured Wednesday.

Reverse repos enable the central bank to purchase securities from commercial banks through bidding with an agreement to sell them back in the future.