Financial News: China Keeps Medium-Term Lending Facility Rate Unchanged

China Keeps Medium-Term Lending Facility Rate Unchanged

10/25/2024 - 02:19:00 (RTTNews)

(RTTNews) - China's central bank left the rate on medium-term lending facility unchanged on Friday after lowering the rate by 30 basis points last month.

The People's Bank of China maintained the medium-term lending facility rate at 2.0 percent.

The central bank today conducted a seven-day reverse repo operations of CNY 292.6 billion at an interest rate of 1.5 percent. The PBoC said it aims to keep adequate liquidity in the banking system at the end of the month.

In September, the bank had reduced the MLF rate from 2.3 percent, which was the first reduction since July.

Earlier this month, PBoC Governor Pan Gongsheng said that the bank could further cut the reserve requirement ratio by 0.2-0.5 percentage points at appropriate time depending on the market liquidity before the year-end.

Official data released this month showed that the second-largest economy expanded at the slowest pace in more than a year with property market continuing to be the biggest drag on growth.

GDP growth eased to 4.6 percent in the third quarter from 4.7 percent in the preceding period. Beijing aims to achieve around 5 percent growth this year.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Atlanta Fed Q4 GDP Growth Estimate Steady At 3.1% (01 hr(s), 09 min(s), 20 sec(s) ago)
(RTTNews) - Atlanta Fed maintained the U.S. economic growth estimate for the fourth quarter at 3.1 ...Full Story»

Five-Year Note Auction Attracts Average Demand (01 hr(s), 10 min(s), 20 sec(s) ago)
(RTTNews) - A day after reporting above average demand this month's auction of $69 billion wor ...Full Story»

Slovenia November Tourist Arrivals Rise 20% (01 hr(s), 30 min(s), 20 sec(s) ago)
(RTTNews) - Visitor arrivals to Slovenia rose in November led by an influx of people from the neig ...Full Story»

Malaysia Producer Prices Fall At Slower Pace (07 hr(s), 01 min(s), 20 sec(s) ago)
(RTTNews) - Malaysia's producer prices decreased for the third straight month in November, tho ...Full Story»

Dutch Economy Grows As Estimated In Q3 (11 hr(s), 02 min(s), 20 sec(s) ago)
(RTTNews) - The Dutch economy expanded for the second straight quarter as initially estimated in ...Full Story»

Japan, Australia Central Banks To Release Minutes (44 min(s), 40 sec(s) ago)
(RTTNews) - The Bank of Japan will on Tuesday release the minutes from its monetary policy meeting ...Full Story»

South Korea Consumer Confidence Index Tumbles In December - BoK (27 min(s), 40 sec(s) ago)
(RTTNews) - The Composite Consumer Sentiment Index (CCSI) for December stood at 88.4, 12.3 points ...Full Story»

Two-Year Note Auction Attracts Above Average Demand (11 min(s), 40 sec(s) ago)
(RTTNews) - The Treasury Department announced the results of this month's auction of $69 billi ...Full Story»