PBOC issues CNY500 billion via one-year MLF at 2.95%

Dhwani Mehta FXStreet

The People’s Bank of China (PBOC) injected CNY500 billion via one-year medium-term lending (MLF) facility on Friday.

The Chinese central bank kept the rate for one-year MLF operation rate unchanged at 2.95%.

Separately, the central bank injected 10 billion yuan of the 7-day reverse repo at 2.20%.

Market reaction

USD/CNY is almost unchanged on the latest PBOC operation. The spot trades at 6.4355, consolidating the previous bounce from four-month lows of 6.4271 reached a day before.

Meanwhile, the AUD/USD pair eases to 0.7415, as of writing, having faced rejection just below the monthly highs of 0.7427.

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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