China's central bank injects liquidity into market

BEIJING - China's central bank injected funds into the monetary market on Wednesday to maintain ample liquidity in the banking system.

The People's Bank of China conducted 10 billion yuan ($1.48 billion) of seven day reverse repos at an interest rate of 2.55 percent.

No reverse repos will mature on Wednesday.

A reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.