PBOC conducts money injection after Spring Festival holiday

China's central bank pumped money into the markets through reverse repurchase agreements (repos) on Thursday to ease liquidity after last week's national holiday.

The People's Bank of China (PBOC) injected 38 billion yuan (6.2 billion U.S. dollars) into the markets through 14-day reverse repos, a process in which central banks purchase securities from banks with an agreement to resell them at a future date.

The reverse repo was priced to yield 4.1 percent, according to the PBOC website.

The injection aims to ease the condition of tightened liquidity as a series of other operations made before the Spring Festival holiday are due this week.

The PBOC suspended open market operations on Feb. 17 because of the Chinese Lunar New Year holiday, which started Feb. 18.