China Pumps Cash Into Banking System to Support Stimulus

(Bloomberg) — China stepped up its support for the economy by pumping the most cash since late 2016 into the financial system with one-year policy loans.

The People’s Bank of China (PBOC) offered 1.45 trillion yuan ($200 billion) of cash through its medium-term lending facility — 600 billion yuan more than the amount coming due in November. The net injection was the most in nearly seven years, while the rate on the loans was kept unchanged at 2.5%.