SHANGHAI, June 15 (Reuters) – China’s central bank rolled over maturing medium-term loans on Tuesday, while keeping the interest rate unchanged for the 14th month in a row.
The People’s Bank of China (PBOC) said it was keeping the rate on 200 billion yuan ($31.27 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions steady at 2.95% from previous operations.
The fresh fund injection via the liquidity tool offsets the same amount of such MLF loans due on the same day.
The central bank said it injected another 10 billion yuan worth of seven-day reverse repos into the banking system on the day. With 20 billion yuan worth of reverse repos in maturity, the PBOC drained a net 10 billion yuan on Tuesday. ($1 = 6.3967 Chinese yuan)
Source: Read Full Article