Stock Groups

China cbank injects 500 billion yuan via medium-term loans, rate unchanged -statement -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO – A mask-wearing man walks by the People’s Bank of China headquarters in Beijing as China is struck by the coronavirus. February 3, 2020. REUTERS/Jason Lee/File Photo

SHANGHAI, (Reuters) – China’s central banking injected money through medium-term loan into the financial sector on Wednesday. The interest rate remained unchanged for the 20th consecutive month.

According to the People’s Bank of China, (PBOC), it is maintaining at 2.95% its rate for 500 billion yuan (or $78.5 billion) of medium-term loans (MLFs) that are made to financial institutions.

In an online statement, the central bank stated that the PBOC earlier decided to lower banks’ reserve requirement ratios (RRR) and also went into effect. This freed 1.2 trillion yuan of long-term fund.

A further 10 billion yuan of reverse repos was also added by the central bank to the banking sector. It offsets short-term liquidity operations of the same size due on Wednesday.

($1 = 6.3671 yuan)

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]