People's Bank of China injected RMB 502bn (around USD 74bn) of cash into the banking system
- Through one-year loans
- Medium-term Lending Facility (MLF)
- rate unchanged from its previous MLF, 3.3%
- The move was unexpected by market participants as no MLF loans were due to mature on Monday. The central bank typically injects liquidity through MLF loans on the day existing loans are due to mature.