(Yicai Global) March 19 -- The People's Bank of China has injected CNY50 billion (USD7.5 billion) cash into the nation's financial system in open market operations.

The central bank conducted a seven-day reverse repo of the same value this morning, with no agreements due to expire today. The bid rate for the new reverse repo was 2.55 percent, unchanged from recent OMOs.

Today was just the third time the PBOC has conducted a seven-day reverse repo this month, injecting a total of CNY130 billion.

The banking system already has reasonable liquidity, the central bank said in a statement yesterday, when it withdrew a net CNY267 billion (USD40 billion).

Editor: James Boynton