The People’s Bank of China (PBOC) liquidity through medium-term loans into the financial system on Tuesday. The central bank also kept its interest rate unchanged.
PBOC said it was maintaining rate on 300-billion-yuan ($47.19 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions steady at 2.85%, as widely expected.
The 300-billion-yuan injection exceeds the 200 billion in such loans maturing this week.
Earlier in January, the central in a surprise move cut one-year MLF rate 10 basis points to 2.85% from 2.95%. Besides the agency has also cut 10 basis point in the seven-day reverse repurchase agreement rate.
The central bank also injected 10 billion yuan worth of seven-day reverse repos into the banking system, against 20 billion yuan in such loans maturing Tuesday.
