China’s central bank injects liquidity into market

BEIJING: China’s central bank pumped cash into the financial system through open market operations yesterday to maintain liquidity in the market.

A total of 200 billion yuan (about US$30.4bil) was injected into the market via medium-term lending facility (MLF), according to the People’s Bank of China, the central bank.

The funds will mature in one year at an interest rate of 2.95%.

Meanwhile, the central bank injected 150 billion yuan into the market through seven-day reverse repos at an interest rate of 2.2%.

The move was intended to maintain stable liquidity in the banking system at the end of the month, the central bank said. — Xinhua

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