SINGAPORE (Dow Jones) — The People’s Bank of China (PBoC) has kept interest rates unchanged, which it uses to control banks’ borrowing costs, while injecting fresh liquidity into the banking system. The PBoC left the interest rate on the one-year medium-term credit facility (MLF) unchanged at 2.85 percent and the interest rate on the seven-day reverse repo facility constant at 2.10 percent, according to its website.
The decision to leave those policy rates unchanged may indicate that it will also confirm its corporate lending rates next Wednesday. The central bank injected 100 billion yuan of liquidity into the financial system through the MLF on Friday and 3 billion yuan through seven-day reverse repo operations.
Contact the author: [email protected]
DJG/DJN/hab/apo
(END) Dow Jones Newswires
July 15, 2022 04:31 ET (08:31 GMT)