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On Friday, the People’s Bank of China (PBOC) injected 300 billion yuan ($41.96 billion) into money markets, via seven-day reverse repo agreements, keeping the interest rate unchanged at 2.20%. 

This brings the weekly cash injection through open market operations (OMOs) to CNY670 billion on a net basis.

The daily injection came in line with the Reuters prediction, as it made the biggest weekly injection since mid-January.