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CHINA: Central Bank Cuts Key Policy Rate and Withdraws Liquidity.

CHINA
EM BulletAPACChinaEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • A day after a raft of policy initiatives the PBOC announced a cut in the Medium-Term Lending Facility (“MLF”) in a bid to boost lending.
  • The MLF was reduced to 2.0% from 2.3% and CNY300bn was injected into the financial system as part of the operation.
  • As part of the morning’s operation, the PBOC also issued CNY196.5bn of 14-day reverse repo at 1.85%.
  • With CNY591bn of maturities due, the issuance of CNY300bn represented a net liquidity withdrawal of CNY291bn ahead of next week's National Holidays. 
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  • A day after a raft of policy initiatives the PBOC announced a cut in the Medium-Term Lending Facility (“MLF”) in a bid to boost lending.
  • The MLF was reduced to 2.0% from 2.3% and CNY300bn was injected into the financial system as part of the operation.
  • As part of the morning’s operation, the PBOC also issued CNY196.5bn of 14-day reverse repo at 1.85%.
  • With CNY591bn of maturities due, the issuance of CNY300bn represented a net liquidity withdrawal of CNY291bn ahead of next week's National Holidays.