SHANGHAI - China's central bank on Tuesday cut the interest rate on its medium-term lending facility for the first time since early 2016.
The People's Bank of China said on its website that it was lowering the rate on one-year MLF loans by 5 basis points to 3.25 per cent from 3.30 per cent previously. The PBOC said it had injected 400 billion yuan into financial institutions via the liquidity tool, slightly less than a batch of MLF loans worth 403.5 billion yuan due to mature on Tuesday.China's economic growth has slowed to near 30-year lows, weighed down by weak domestic and global demand and the prolonged US-China trade war.
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