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Financial News: China Maintains Medium-Term Lending Facility

China Maintains Medium-Term Lending Facility

01/16/2023 - 00:36:00 (RTTNews)

(RTTNews) - China's central bank left its medium-term lending facility rate unchanged and added more funds to maintain sufficient liquidity in the financial system.

The People's Bank of China on Monday added CNY 779 billion via one-year medium-term lending facility. The rate on MLF was kept unchanged at 2.75 percent.

The MLF acts as a guide to the loan prime rate, which is the benchmark lending rate.

The PBoC today conducted CNY 82 billion of seven-day reverse repo operations at an interest rate of 2.00 percent and also CNY 74 billion of 14-day reverse repos at 2.15 percent.

The market should perceive more liquidity injections from the PBoC as supportive measures for economic growth, ING economist said in a note.

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