July 26, 2024 02:58 GMT
PBOC To Prioritise Stable Growth
CHINA PRESS
MNI (Singapore)
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The People’s Bank of China has prioritised stabilising growth by cutting interest rates, which will boost market confidence and clarify future monetary-policy regulation, the PBOC-run Financial News reported, citing analysts. The central bank's latest unscheduled medium-term lending facility (MLF) issuance of CNY200 billion, plus the recent expansion of afternoon open market operation tools, shows the bank’s support for the economic rebound, the newspaper said. The PBOC made the recent MLF injection at a 20 basis point cut after the LPR quotation to signal the reduced importance of the MLF as a policy rate, the newspaper said citing analysts.
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