PBoC injects 17 billion yuan to ease liquidity

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The People's Bank of China added 17 billion yuan ($2.7 billion) in liquidity through reverse repurchase operations to the interbank market yesterday, in a move interpreted by some observers as signalling a move to a looser monetary stance.

Last month, the Chinese overnight repo rate increased to a record 25% on June 17 after regulatory authorities began a crackdown on risky lending activities and the growth of the unregulated shadow banking sector in the country.

Yesterday, however, the central

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