Bank of Canada injects C$405 mln into market

TORONTO, May 9 (Reuters) - The Bank of Canada injected C$405 million ($402 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, buying securities with the agreement to sell them back the next business day. ($1=$1.01 Canadian) (Reporting by Frank Pingue; editing by Rob Wilson)