China cuts interest rate of TMLF

China's central bank cut the interest rate of targeted medium-term lending facility (TMLF) to 2.95 percent on Friday, 20 basis points lower than the previous TMLF.The People's Bank of China (PBOC) renewed 267.4 billion yuan (37.8 billion U.S. dollars) in TMLF operations that came due Friday to maint