SHANGHAI/SINGAPORE : China's central bank rolled over maturing medium-term policy loans while keeping interest rates unchanged on Monday, matching market expectations.The People's Bank of China (PBOC) said it was keeping the rate on 125 billion yuan ($18.08 billion) worth of one-year medium-term lending f
SHANGHAI/SINGAPORE : China's central bank rolled over maturing medium-term policy loans while keeping interest rates unchanged on Monday, matching market expectations.
The People's Bank of China said it was keeping the rate on 125 billion yuan worth of one-year medium-term lending facility loans to some financial institutions unchanged at 2.75 per cent from the previous operation. In a Reuters poll of 30 market watchers conducted last week, 26 participants, or 86.7 per cent, predicted no change to the MLF rate, while four respondents expected a marginal rate cut.
With 100 billion yuan worth of MLF loans set to expire this month, the operation resulted in a net 25 billion yuan fresh fund injection into the banking system. The central bank also injected 2 billion yuan through seven-day reverse repos while keeping borrowing costs unchanged at 2.00 per cent, it said in an online statement.
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