China’s central bank injects liquidity into market in June

2 July, 2019 12:00 AM printer

BEIJING: China's central bank continued to pump cash into the money market in June to meet the demand for liquidity from financial institutions.

A total of 740 billion yuan (about 108 billion U.S. dollars) was injected into the market via the medium-term lending facility (MLF) last month to maintain liquidity in the banking system at a reasonably sufficient level, according to the People's Bank of China (PBOC), reports Xinhua.

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

Total outstanding MLF loans reached 3.68 trillion yuan as of the end of June.