China's central bank extended 300 billion yuan through its medium-term lending facility on Friday, but kept the lending rate unchanged.[SHANGHAI] China's central bank extended 300 billion yuan through its medium-term lending facility on Friday, but kept the lending rate unchanged.
The People's Bank of China said on its website the interest rate on one-year MLF loans remained 3.25 per cent, the same as in the previous operations. The injection of fresh funds exceeded a batch of 187.5 billion yuan worth of such one-year MLF loans due to maturity on the same day, injecting a net 112.5 billion yuan into the market.
Investors had been anxious to see if the PBOC would lower the MLF rate again this month following a marginal interest rate cut in November, though traders said they had not expected a rate reduction.The PBOC cut the interest rate on its one-year MLF loans by five basis points last month for the first time since early 2016, as policymakers work to prop up a slowing economy hit by weaker demand at home and abroad.
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