Central Bank of China invested 600 billion yuan in medium-term loan, rate unchanged for 16th month



SHANGHAI, August 16. (Reuters) – China’s central bank on Monday injected billions of yuan into the financial system in medium-term loans, while keeping the interest rate unchanged for the 16th consecutive month.

The People’s Bank of China (PBOC) kept its RMB 600 billion ($ 92.64 billion) medium-term lending (MLF) rate to some financial institutions at 2.95% from previous operations.

The NBK said in a statement that the operation consisted of the rollover of 700 billion yuan of MOF loans maturing on Tuesday and effectively pulled 100 billion yuan of medium and long-term liquidity from the banking system.

The central bank also injected another 10 billion yuan of seven-day reverse repos into the banking system. ($ 1 = RMB 6.4768) (Reporting by Winnie Zhou and Andrew Galbraith, editing by Sri Navaratnam)


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