China's central bank on Thursday pumped 35 billion yuan about (5.4 billion US dollars) into the market.
The People's Bank of China (PBOC) put 85 billion yuan into seven-day reverse repos priced to yield 2.25%, according to China's (Xinhua) News Agency. Reverse repos worth 50 billion yuan mature on Thursday, so the central bank has effectively injected 35 billion yuan into the market.
On Thursday's interbank market, the benchmark overnight Shanghai Interbank Offered Rate (Shibor) was down by 0.1 basis point to 2.01%. Seven-day Shibor dropped 0.1 basis point to 2.331%. Three-month Shibor rose 0.46 basis point to 2.9273%