China conducts $98.5 billion MLF to inject liquidity

China's central bank on Friday conducted a 700-billion-yuan (about US$98.5 billion) medium-term lending facility (MLF) operation to maintain reasonable and ample liquidity in the banking system. According to Xinhua news agency, the MLF operation has a one-year maturity with an interest rate of 2 percent, unchanged from the rate of the previous operation conducted last month. After the operation, the outstanding balance of the MLF stood at 6.789 trillion yuan. Source: Emirates News Agency