"No rate cut"! The central bank continues to maintain the same interest rate, injecting 100 billion yuan through MLF, marking the fifth consecutive month without net injection of funds through MLF
The People's Bank of China conducted a 100 billion yuan MLF operation today, with a winning bid rate of 2.50%, unchanged from before. This marks the fifth consecutive month that the central bank has not injected net funds through MLF. On Wednesday, 103 billion yuan of MLF will mature
On Monday, July 15th, the People's Bank of China conducted a 100 billion yuan Medium-term Lending Facility (MLF) operation with a stable interest rate of 2.5%. This marks the fifth consecutive month without a net injection of funds through MLF. On Wednesday this week, 103 billion yuan of MLF will mature.
In the announcement of open market operations transactions, the central bank stated that in order to offset the impact of the peak tax period and other factors, and to maintain reasonable and adequate liquidity in the banking system, the People's Bank of China conducted 129 billion yuan of reverse repurchase operations on July 15, 2024 through interest rate bidding. In addition, a 100 billion yuan Medium-term Lending Facility (MLF) operation was carried out to fully meet the financial institutions' needs.
Specific details are as follows:
