People’s Bank of China leaves 1-year MLF rates unchanged at 2.75%

The People’s Bank of China (PBOC-central bank of China) has announced that it has left the 1-year interest rates unchanged at 2.75%, in line with expectations, on the 480 billion yuan facility with which it provides loans to financial institutions.

With some 200 billion yuan worth of MLF medium-term loans from the People’s Bank of China maturing this month, the PBOC’s deal resulted in a net injection of 281 billion yuan into China’s banking system.

The MLF rate is applied by the People’s Bank of China to one-year medium-term loans (MLF) it provides to some Chinese banks.