China's central bank lowers MLF interest rate and injects 200 billion yuan into the market to support the economy.

China's central bank, the People's Bank of China (PBOC), lowered the medium-term lending facility (MLF) interest rate by 20 basis points to 2.3% to reduce borrowing costs for the real economy. The PBOC also pumped 200 billion yuan ($28.04 billion) into the market via the MLF, which will mature in one year. This move is expected to support the economy by reducing financing costs and easing monetary policy.