China's central bank injects market liquidity via MLF

BEIJING - China's central bank pumped cash into the financial system through open market operations to maintain liquidity in the market Wednesday.

A total of 200 billion yuan ($28.29 billion) was injected into the market via the medium-term lending facility (MLF), People's Bank of China (PBOC) said in an online statement.

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

The central bank skipped reverse repo 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.

China will keep its prudent monetary policy "neither too tight nor too loose" while maintaining market liquidity at a reasonable level in 2019.