China cbank keeps medium-term policy rate unchanged for 4th straight month

SHANGHAI : China's central bank rolled over maturing medium-term policy loans while keeping the interest rate unchanged for a fourth straight month on Monday, matching market expectations.

The People's Bank of China said it was keeping the rate on 100 billion yuan worth of one-year medium-term lending facility loans to some financial institutions unchanged at 2.85 per cent. Thirty-one out of 45 traders and analysts, or nearly 70 per cent of all participants in a Reuters poll, had forecast no change to the MLF rate, noting that a weakening yuan and a pick up in consumer prices was giving the central bank less room for monetary policy easing.

With the same amount of MLF loans maturing on Monday, the operation resulted in no fresh net fund injection into the banking system. The central bank also injected 10 billion yuan through seven-day reverse repos while keeping borrowing cost unchanged at 2.1 per cent, offset the same amount maturing on the same day, according to an online statement.

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Source: ChannelNewsAsia - 🏆 6. / 66 Read more »