BEIJING, April 15 (Xinhua) -- China's central bank on Wednesday further lowered the interest rate of its medium-term lending facility (MLF) loans by 20 basis points amid a slew of monetary policy maneuvres to mitigate impact of COVID-19 on the world's second largest economy.
The People's Bank of China lowered the rate of 100 billion yuan (about 14.2 billion U.S. dollars) worth of one-year MLF to financial institutions to 2.95 percent, compared with 3.15 percent on the previous operation.
The MLF tool was introduced in 2014 to help commercial and policy banks maintain liquidity by allowing them to borrow from the central bank using securities as collateral.
No MLF loans are set to mature on Wednesday.
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