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People's Bank of China set MLF rate at 2.5%, big cut from prior 2.65%
There were little expectations for a rate cut from the PBOC on this - so quite the surprise.PBOC inject 401bn yuan via a one-year MLF at 2.5% 400bn yuan of MLF are maturing today thus net MLF injection is 1bn yuanThe PBOC has also cut the 7 day reverse repo rate. To 1.8% from prior 1.9%.--The PBOC's MLF rate is a benchmark interest rate that banks in China can use to borrow funds from the People's Bank of China for a period of 6 months to 1 year, medium-term liquidity to commercial banks.The ra...
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Posted: Aug 15 2023, 01:21
Author Name: forexlive
Views: 022193