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PBOC Offers Record $112 Billion of Cash as Economy Struggles

China extended its support for the economy with the largest injection of medium-term policy loans ever, as the nation’s growth recovery remained fragile amid a housing slump and weak demand.

The People’s Bank of China offered commercial lenders a net 800 billion yuan ($112 billion) of one-year loans while keeping the interest rate on the funding unchanged. The injection was more than twice the amount seen by analysts queried in a Bloomberg survey and was also larger than the infusion last month.

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