China central bank injects 100 billion yuan through medium-term loans – statement

© Reuters. FILE PHOTO: The headquarters of the People’s Bank of China, the central bank, in Beijing, China, February 3, 2020. REUTERS/Jason Lee

SHANGHAI (Reuters) – China’s central bank rolled over maturing medium-term loans on Monday, while keeping the interest rate unchanged for the 13th month in a row.

The People’s Bank of China (PBOC) said in an online statement it was keeping the rate on 100 billion yuan ($15.54 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions steady at 2.95% from previous operations.

The fresh fund injection via the liquidity tool effectively offset the same amount of such MLF loans due on the same day.

The central bank also injected another 10 billion yuan worth of seven-day reverse repos into the banking system on the day. With 20 billion yuan worth of reverse repos in maturity, the PBOC drained a net 10 billion yuan on Monday.

($1 = 6.4367 )

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