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Central bank injects liquidity into market

China's central bank injected funds into the monetary market on Wednesday to maintain ample liquidity in the banking system. The People's Bank of China conducted 160 billion yuan ($23.84 billion) of seven-day reverse repos at an interest rate of 2.55 percent and 200 billion yuan at a 1-year medium-term lending facility (MLF) at an interest rate of 3.3 percent on Wednesday. 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.