PBoC holds key interest rate unchanged
State council defers some firms’ tax payments and says it will increase support measures
The People’s Bank of China kept its one-year medium-term lending facility (MLF) unchanged today (September 15), signalling a pause in its monetary easing cycle.
The PBoC also made a further 400 billion yuan ($57.2 billion) worth of loans to some financial institutions at 2.75%. With 600 billion yuan worth of such loans maturing on the same day, that resulted in a net withdrawal of 200 billion yuan from the banking system.
The PBoC’s latest move to keep the MLF rate unchanged matched market
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