China's central bank injects cash into market via PSL

BEIJING, Feb. 21 (Xinhua) -- 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 (about 10.7 billion U.S. dollars) 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.