PBOC Cuts Back on One-Year Cash Injection Despite Weak Growth

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The PBOC is grappling with several challenges, including the looming prospect of deflation, subdued economic growth and a faltering property market. Photo: Bloomberg

(Bloomberg) — China’s central bank scaled back its injection of medium-term policy loans Monday, as it keeps liquidity support measured for the struggling economy.

The People’s Bank of China (PBOC) offered 103 billion yuan ($14.4 billion) of loans via the medium-term lending facility, 3 billion yuan more than what is maturing Monday. The size of net injection — albeit the eighth in a row — was the lowest since November. It kept the interest rate on funding unchanged after cutting it last month.