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PBOC keeps MLF rate unchanged, market still expects easing this week

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The People's Bank of China (PBOC) kept the interest rate unchanged in its open market operations on Tuesday, indicating an inclination to avoid excessive monetary stimulus despite more signs of a deepening slowdown. However, many still expect more easing this week.

The central bank injected 200 billion yuan ($28.27 billion) via one-year medium-term lending facility (MLF) operation on Tuesday as 265 billion yuan of such loans matures. Meanwhile, 80 billion yuan worth of seven-day reverse . . .

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