PBOC injects CNY800 billion via one-year MLF at 2.95%

Dhwani Mehta FXStreet

The People’s Bank of China (PBOC) injected CNY800 billion via one-year medium-term lending (MLF) facility on Monday.

The Chinese central bank conducted the one-year MLF operation at 2.95%, unchanged from the previous operation. The PBOC kept the rates unchanged for the sixth time in a row.

The injection offsets the CNY600 billion maturities for this month.

Market reaction

USD/CNY is under heavy selling pressure amid broad US dollar weakness, as the Chinese currency shrugs-off the latest PBOC operation. The spot trades 0.35% lower at 6.5813, at the time of writing.

Meanwhile, the AUD/USD pair is looking to regain 0.7300 amid a risk-on market profile, reflected by the 0.80% gain in the S&P 500 futures.

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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