The People's Bank of China (PBOC) has conducted several monetary operations to manage liquidity in the financial system. On Tuesday, the PBOC injected 2 billion yuan via 7-day reverse repos at an interest rate of 1.8%, offsetting the same amount due that day. Additionally, on Wednesday, the PBOC conducted 125 billion yuan of 1-year Medium-term Lending Facility (MLF) at an unchanged interest rate of 2.5% and another 2 billion yuan of 7-day reverse repos. These actions come amid pressure on the Chinese government and central bank to address a shock credit contraction and support economic growth and currency stability. According to Bloomberg, an analyst at Everbright Securities highlighted the increasing pressure on the central bank to assist.