PBoC withdraws liquidity and holds key rate
Policy-makers refrain from easing despite weak inflation and exports data
The People’s Bank of China (PBoC) withdrew liquidity from the banking system and left a key policy rate unchanged today (April 15), despite low inflation and weak demand.
The PBoC offered 100 billion yuan ($13.82 billion) of one-year medium-term facility (MLF) loans to financial institutions at a rate of 2.5%, the central bank said in a statement. With 170 billion yuan worth of MLF loans set to expire this month, the operation resulted in a net 70 billion yuan of fund withdrawal from the banking
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