The People's Bank of China, China's central bank, conducted 35 billion yuan worth of 7-day reverse repos at a yield of 2.5 percent in Thursday's open market operations. Statistics show 40 billion yuan of reverse repos were due this week, and the central bank had offered 35 billion yuan of reverse repos on Tuesday. As a result, the central bank, injected a net 30 billion yuan into the financial system this week. Traders noted that the central bank scaled up its reverse repo sale this week in an attempt to guide down capital prices in the money market.
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