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China central bank injects US$47.2 billion via medium-term loans, rate unchanged

China central bank injects US$47.2 billion via medium-term loans, rate unchanged

FILE PHOTO: People walk past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. REUTERS/Jason Lee

SHANGHAI: China's central bank injected funds through medium-term loans into the financial system on Tuesday (Feb 15), while keeping the interest rate unchanged.

The People's Bank of China (PBOC) said it was keeping the rate on 300 billion yuan (US$47.19 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions steady at 2.85per cent, as widely expected.

The 300 billion yuan injection exceeds the 200 billion in such loans maturing this week.

In January, the PBOC unexpectedly cut the one-year MLF rate 10 basis points to 2.85 per cent from 2.95 per cent previously, alongside a 10 basis-point cut in the seven-day reverse repurchase agreement rate.

The central bank also injected 10 billion yuan worth of seven-day reverse repos into the banking system, against 20 billion yuan in such loans maturing on Tuesday.

Source: Reuters/ga

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