Central bank injects 10b yuan into market

BEIJING - The central bank on Thursday pumped more money into the market for the fourth-consecutive day.

The People's Bank of China (PBOC) put 30 billion yuan ($4.49 billion) into seven-day reverse repos, a process by which central banks purchase securities from banks with an agreement to sell them back in the future.

The reverse repos were priced to yield 2.25 percent, unchanged from the previous operation, according to a PBOC statement.

Reverse repos worth 20 billion yuan matured on Thursday, so the central bank has effectively pumped 10 billion yuan into the market.

This week, the PBOC has accumulatively added a net 105 billion yuan of liquidity into the market via seven-day reverse repos.

On Thursday's interbank market, the benchmark overnight Shanghai Interbank Offered Rate, known as Shibor, rose 0.3 basis point to 2.008 percent.