The People’s Bank of China lowered the interest rate on its medium-term lending facility to 2.95% from 3.15% on April 15th 2020. It is the lowest rate since the liquidity tool was introduced in September of 2014, aiming to continue to provide funding to the economy in an attempt to curb the effects of the coronavirus. The PBoC also injected CNY 100 billion via the liquidity tool.