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Home Leadership

China central bank leaves key policy rate unchanged, as expected

by Riah Marton
in Leadership
China central bank leaves key policy rate unchanged, as expected
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CHINA’S’ central bank on Friday left a key policy rate unchanged as expected when rolling over maturing medium-term loans.

The People’s Bank of China (PBOC) said it was keeping the rate on 387 billion yuan (S$72 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions unchanged at 2.50 per cent from the previous operation.

In a Reuters poll of 36 market watchers, 32, or 89 per cent, of all respondents, expected the central bank to keep the borrowing cost of the one-year MLF loans unchanged.

With 481 billion yuan worth of MLF loans set to expire this month, the operation resulted in a net 94 billion yuan fund withdrawal from the banking system.

The central bank also injected 13 billion yuan through seven-day reverse repos while keeping the borrowing cost unchanged at 1.80 per cent, it said in a statement. AFP

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Tags: BankCentralChinaExpectedKeyLeavesPolicyRateUnchanged
Riah Marton

Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

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