Bank of Canada injects C$830 mln to lower rate

OTTAWA, July 25 (Reuters) - The Bank of Canada injected C$830 million ($814 million) into markets on Friday to lower the overnight interest rate toward the central bank's target and improve liquidity.

The bank operates through Special Purchase and Resale Agreements, or SPRAs, buying securities with the agreement to sell them back the next business day, effectively injecting money into markets.

It injected C$1.305 billion on Thursday and C$775 million on Monday but drained C$250 million from the market on Tuesday.

($1=$1.02 Canadian) (Reporting by Randall Palmer; Editing by Peter Galloway)