BEIJING - China's central bank on Thursday injected cash into the market through pledged supplementary lending (PSL) to maintain reasonable interbank liquidity.
The PSL came in at 71.9 billion yuan ($10.7 billion) and was designed to offset the liquidity pressure from tax payments and treasury deposits coming due, according to a statement of the People's Bank of China (PBOC).
The PBOC skipped reverse repos, another cash-injecting tool, on Thursday.
The overnight Shanghai Interbank Offered Rate, which measures the borrowing cost on China's interbank market, rose 17.6 basis points to 2.03 percent Thursday.