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China Maintains Medium-Term Lending Facility Rate
(RTTNews) - The People's Bank of China conducted one-year medium-term lending facility operations on Tuesday and the interest rate on MLF was kept unchanged.
The central bank issued CNY 300 billion of one-year MLF at a rate of 2.0 percent. The interest rate was unchanged from the previous operation.
Following the operation, the outstanding MLF balance was CNY 4.09 trillion.
The PBoC said the operation is intended to keep reasonably ample liquidity in the banking system.
The previous change in the MLF was in September, when the rate was reduced by 30 basis points, which was the first reduction since July.
Last week, the PBoC had retained its one-year loan prime rate at 3.10 percent and the five-year LPR at 3.60 percent. The rates were kept unchanged for the fourth straight time.
Earlier this month, the central bank said it will use its monetary policy tools and also adjust the timing and intensity of policies based on both domestic and global economic and financial conditions.
In the fourth-quarter monetary policy report, the PBoC said the intention is to maintain ample liquidity and to ensure that social financing and money supply growth align with the economic growth and inflation objectives.
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