FXStreet (Mumbai) – The People’s Bank of China (PBOC) decided to ease the slowing economy further, with an injection of 140 billion yuan ($21.80 billion) into the financial system one day after policymakers cut the benchmark interest rates.
The liquidity injection into the interbank money market was carried out via a short-term liquidity operation (SLO), the central bank informed on its website.
The PBOC launched SLOs in 2013 as a supplement of its other monetary policy tools in an effort reduce fluctuations in liquidity and stabilize interbank funding costs.
(Market News Provided by FXstreet)