(ATF) China’s central bank pumped more cash into the financial system through open market operations on Monday.
A total of 200 billion yuan ($28bn) 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%.
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.
READ MORE: PBoC to bolster real economy via targeted RRR cuts, refinancing
