China’s central bank continues to inject liquidity into market

20 June, 2019 12:00 AM printer

BEIJING: The People's Bank of China (PBOC), the central bank, on Wednesday continued to pump cash into the financial system through open market operations to maintain liquidity in the market.

A total of 240 billion yuan (about 34.8 billion U.S. dollars) was injected into the financial market via the medium-term lending facility (MLF), the central bank said in an online statement, reports Xinhua.

The funds will mature in one year at an interest rate of 3.3 percent.

The MLF tool was introduced in 2014 to help commercial and policy banks maintain liquidity by allowing them to borrow from the central bank using securities as collateral.