PBOC injects CNY700 B via one-year MLF at 2.95%

Dhwani Mehta FXStreet

The People’s Bank of China (PBOC) injected CNY700 billion via one-year medium-term lending (MLF) facility on Monday.

The Chinese central bank issued the one-year MLF at 2.95%, unchanged from the previous operation. The PBOC kept the rates unchanged for the fourth straight month.

Market reaction

USD/CNY is under pressure, looking to extend further below 6.9500 while the Chinese currency shrugs-off the latest PBOC operation. The spot trades 0.07% lower at 6.9455, at the time of writing.

Meanwhile, the AUD/USD pair builds on Friday’s gains but remains capped below 0.7200, with US-China tensions weighing negative on the market mood.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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