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Bank of Canada injections now total C$1.345 bln

Fri Oct 3, 2008 12:23pm EDT

TORONTO, Oct 3 (Reuters) - The Bank of Canada injected a total of C$1.345 billion ($1.25 billion) into markets on Friday to lower the overnight interest rate toward the central bank's target and improve liquidity.

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The bank operates through Special Purchase and Resale Agreements, or SPRAs, buying securities with the agreement to sell them back in the next business day, effectively injecting money into markets. ($1=$1.08 Canadian) (Reporting by John McCrank; Editing by Peter Galloway)

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