China cbank will conduct MLF operations to roll over maturity on Friday – traders

SHANGHAI, Dec 5 (Reuters) – China’s central bank will conduct medium-term lending facility (MLF) operations on Friday to roll over maturing loans, two traders with direct knowledge of the matter said on Thursday.

A batch of 187.5 billion yuan ($26.64 billion) worth of MLF loans are set to expire on Friday.

Markets are closely watching to see if the People’s Bank of China (PBOC) will lower the MLF interest rate again this month.

The PBOC cut the interest rate on its one-year MLF loans last month for the first time since early 2016, as policymakers work to prop up a slowing economy hit by weaker demand at home and abroad.

The interest rate on one-year MLF loans now stands at 3.25%.

$1 = 7.0389 Chinese yuan
Reporting by Zhang Xiaochong and Andrew Galbraith, Writing by
Winni Zhou; Editing by Kim Coghill


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