PBoC holds key rate despite uneven economic recovery
Central bank likely to keep MLF rate unchanged before Fed cuts rates, analysts say
The People’s Bank of China (PBoC) kept a key interest rate unchanged for the eleventh consecutive month today (July 15), even though new data suggests the economy remains weighed down by weak consumption and the downturn in the property sector.
The central bank offered 100 billion yuan ($13.8 billion) of one-year medium-term lending facility (MLF) loans to some financial institutions at 2.5% interest, a rate that has remained unchanged since August 2023.
With 103 billion yuan of MLF loans expiring
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