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CHINA: Medium Term Lending Rate Unchanged Whilst Withdrawing Liquidity.

CHINA
EM BulletAPACChinaEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • The PBOC left the 1-year MLF interest rate unchanged at 2.0%.
  • PBOC issued CNY700bn of 1-year issuance.
  • Maturities accounted for CNY789bn.
  • Net liquidity withdrawal CNY89bn.
  • It was widely anticipated that today’s operations would not see a change in the interest rate with all except one of the fifteen economists surveyed expected no change.
  • The MLF had an interest rate reduction in September, and it was indicated that over time it is to be phased out. 
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  • The PBOC left the 1-year MLF interest rate unchanged at 2.0%.
  • PBOC issued CNY700bn of 1-year issuance.
  • Maturities accounted for CNY789bn.
  • Net liquidity withdrawal CNY89bn.
  • It was widely anticipated that today’s operations would not see a change in the interest rate with all except one of the fifteen economists surveyed expected no change.
  • The MLF had an interest rate reduction in September, and it was indicated that over time it is to be phased out.