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China's central bank injects liquidity into market via MLF

2018-2-13

The People's Bank of China (PBOC) is seen in this file photo taken in Beijing. [Photo/Xinhua]

BEIJING - China's central bank Tuesday injected 393 billion yuan ($62.2 billion) into the market via the medium-term lending facility (MLF) to maintain liquidity.

The People's Bank of China, the central bank, said the injected funds would mature in one year at an interest rate of 3.25 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.

The central bank increasingly relies on open-market operations, rather than changes in interest rates or reserve requirement ratios, to manage liquidity in a more flexible and targeted manner.

It suspended reverse repo operations for the 15th consecutive working day Tuesday, citing sufficient liquidity in the banking system.

China will maintain a prudent and neutral monetary policy in 2018 as it strives to balance growth and risk prevention.

Source:Xinhua
 
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