China's PBOC injects another $22B into economy

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China's central bank injected 140 billion yuan ($21.96 billion) into banks through its short-term lending operations (SLO) tool on Monday, according to a statement published on the central bank website.

The interest rate on the 6-day day lines of credit will be 2.35 percent, the same as last Friday's SLO, the bank said.

Last week the central bank injected a total of 280 billion yuan ($43.92 billion) through two separate SLOs.

The People's Bank of China launched SLOs in 2013 to supplement its other monetary policy tools. The facility is mainly used to provide one- to three-day direct lines of credit to commercial banks, though loans with other maturities are occasionally used.