People’s Bank of China cuts medium-term lending rate
Reduction comes a day after PBoC unleashes slew of economic stimulus measures
China’s central bank today (September 25) lowered borrowing costs for certain financial institutions by cutting its medium-term lending facility (MLF) rate for the second time this year.
The People’s Bank of China (PBoC) said in a statement that it was cutting the rate on 300 billion yuan ($42.6 billion) of one-year medium-term lending facility (MLF) loans from 2.30% to 2.00%.
The 30 basis point cut was the biggest since the central bank began using the monetary tool to guide market interest
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
Central Bank of Brazil warns against lavish fiscal spending
Policy committee says unsustainable public debt would make it harder to control inflation
Reserve Bank of Australia holds policy rate
Policy-makers say cut is unlikely in near term while government’s plan to overhaul central bank sours
PBoC unveils major stimulus package
Central bank cuts key rate and reserve requirements, boosts support for property and stock markets
China announces 10bp cut in short-term interest rate
Decision comes days after central bank left benchmark rates unchanged
Philippines central bank cuts reserve requirement ratios
Move follows rate cut in August
Paraguay holds rates at 6%
Central bank points to positive signs in domestic economy and external environment
Pricing and funding pressures from BoE's QT hit gilt repo dealers
QT-driven funding cost rises combined with clients’ price demands see at least two banks pull back
PBoC keeps benchmark rates unchanged
Bank holds one- and five-year loan prime rates, despite weak economic data