PBoC delays medium-term lending facility operations
Postponement to later in the month aligns with bank’s plan to diminish MLF’s role as key policy rate
China’s central bank announced today (August 15) that it would provide liquidity to lenders via its one-year medium-term lending (MLF) facility later this month – a rare delay that comes amid an overhaul of its policy toolkit.
In a statement, the People’s Bank of China (PBoC) said it would renew MLF loans that are set to expire today on August 26.
The bank also announced that it had conducted a 577.7 billion yuan ($81 billion) seven-day reverse repurchase operation today. The aim, it said, was to
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