China renews medium-term lending facility, rate unchanged

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The People’s Bank of China (PBOC) injects103 billion yuan of liquidity to the banking system via one-year Medium-Term Lending Facility (MLF) on Monday, with the rate unchanged at 2.65%, while 100 billion yuan MLF expires.

The central banks also injects 33 billion yuan liquidity via 7-day reverse repo, rate unchanged at 1.9%, while 2 billion yuan reverse repo expires. 

The PBOC cut the yuan’s fixing by 8 pips to 7.1326 per US dollar on Monday, compared to a fixing of 7.1318 in the previous trading day.